---
title: "Plum Acquisition IV to Merge With Controlled Thermal Resources; Earnout Up to 100M Shares"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278860401.md"
description: "Plum Acquisition IV has signed a Business Combination Agreement to merge with Controlled Thermal Resources, facilitating a SPAC transaction to take the company public. The deal includes an earnout of up to 100 million shares based on share price milestones and involves a domestication to Delaware. Key CTR holders have signed a Transaction Support Agreement to secure shareholder approvals. The merger will also feature amended registration rights and a lock-up agreement to stabilize trading post-merger, with plans to list common stock and warrants on a national exchange."
datetime: "2026-03-12T10:03:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278860401.md)
  - [en](https://longbridge.com/en/news/278860401.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278860401.md)
---

# Plum Acquisition IV to Merge With Controlled Thermal Resources; Earnout Up to 100M Shares

Plum Acquisition IV signed a Business Combination Agreement to merge with Controlled Thermal Resources, taking the company public via a SPAC transaction. The deal features an earnout of up to 100 million shares over ten years, triggered by share price milestones, and includes a domestication to Delaware before closing. To support the transaction, key CTR holders signed a Transaction Support Agreement, while closing will also bring an amended registration rights framework and a lock-up to aid orderly post-merger trading and provide resale pathways. The combined company plans to list common stock and warrants on a national exchange.

**Agreement 1: Plum Acquisition IV to Merge With Controlled Thermal Resources; Earnout Up to 100M Shares**

-   **Agreement type**: Business Combination Agreement (SPAC merger)
-   **Counterparty**: Controlled Thermal Resources
-   **Signed / Effective**: Mar 08 2026 / same
-   **Duration / Termination**: Until Closing or termination per agreement
-   **Reason**: Take CTR public and fund growth

**Agreement 2: Plum Acquisition IV Secures Shareholder Backing Via Transaction Support Agreement**

-   **Agreement type**: Transaction Support Agreement (voting and support)
-   **Counterparty**: Certain stockholders of Controlled Thermal Resources
-   **Signed / Effective**: Mar 08 2026 / same
-   **Duration / Termination**: Until Closing or termination per agreement
-   **Reason**: Secure shareholder approvals for the merger

**Agreement 3: Plum Acquisition IV Plans Amended Registration Rights for Sponsor and Holders at Closing**

-   **Agreement type**: Amended and Restated Registration Rights Agreement
-   **Counterparty**: Plum Partners IV (Sponsor) and certain securityholders
-   **Signed / Effective**: Mar 08 2026 / same
-   **Duration / Termination**: Post-closing; ongoing
-   **Reason**: Provide resale pathways and liquidity post-merger

**Agreement 4: Plum Acquisition IV to Implement Post-Close Lock-Up With Sponsor and CTR Holders**

-   **Agreement type**: Lock-Up Agreement
-   **Counterparty**: Plum Partners IV (Sponsor) and certain CTR stockholders
-   **Signed / Effective**: Mar 08 2026 / same
-   **Duration / Termination**: Lock-up period per agreement
-   **Reason**: Stabilize trading and align interests post-merger

Original SEC Filing: Plum Acquisition Corp, IV \[ PLMK \] - 8-K - Mar. 11, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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