Plum Acquisition Corp. IV functions as a Special Purpose Acquisition Company (SPAC). Its foundational purpose is to achieve an acquisition or corporate ...
Plum Acquisition Corp. IV (NASDAQ: PLMK) is a blank check company, incorporated as a Cayman Islands exempted company on June 10, 2024. It is part of the Plum Partners platform, co-founded by Ursula Burns, Kanishka Roy, and Mike Dinsdale, who previously launched Plum Acquisition Corp. I in March 2021. The company's primary purpose is to identify and complete a business combination with one or more target companies, with a focus on technology, media, and telecommunications sectors, as well as sustainability and energy transition. As of the latest data, the company has no significant operations and zero full-time employees, as it is in the pre-business combination stage. Its CEO and Chairman is Kanishka Roy, who is also a co-founder and Managing Partner of Plum Partners. The company completed its initial public offering on January 14, 2025, selling 15,000,000 units at $10.00 per unit, raising $150 million. In 2025, it announced a definitive agreement to acquire Controlled Thermal Resources (CTR), a renewable energy company focused on lithium extraction and geothermal power, in a business combination valued at approximately $4.7 billion. The transaction is expected to provide CTR with capital to accelerate development of its Hell's Kitchen lithium and power project in California. Financially, PLMK has a market capitalization of approximately $256 million, with a book value per share of $9.49. The company's financial metrics show minimal operating activity, with no revenue, but positive net income per share of $0.328 due to interest income on trust funds. The company is headquartered at #2089 in San Francisco, CA, and can be contacted at +1 415 844 9400. As a SPAC, the company's future value creation depends on the successful completion of the CTR acquisition and subsequent operational performance. Key personnel include Kanishka Roy as Chairman and CEO, with advisors such as Ursula Burns, former CEO of Xerox, and Hume Kyle, who has been appointed to the board. The company aims to establish itself as a leading SPAC platform, focusing on high-growth, sustainability-oriented businesses.
