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Music Company Reservoir Holdings to Merge with SPAC.

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Vincent

MANews-(C)2009-2021

US-based independent music company Reservoir Holdings, Inc and US-based special purpose acquisition company Roth CH Acquisition Co. II (NASDAQ: ROCC) have signed a definitive agreement for a business combination that will result in Reservoir becoming a public company, the company said.

Upon closing of the transaction, the combined company will be renamed "Reservoir Media, Inc." and is expected to remain listed on the NASDAQ under the new ticker symbol "RSVR."

In connection with the merger announcement, the companies executed definitive agreements with institutional investors, including funds managed by Caledonia, for a common stock PIPE of USD 150m at USD 10.00 per share.

Upon closing of the transaction, founder and CEO Golnar Khosrowshahi will continue to lead the combined company.

Reservoir will be the first independent music company to go public in the United States and also the first female founded and led music company to be publicly traded in the United States.

Founded in 2007, Reservoir is an award-winning independent music company.

The company's music publishing business represented Reservoir's primary focus from its inception until its large-scale step toward building its recorded music business in 2019 with the acquisition of Chrysalis Records.

With a catalog of hit songs and a roster populated by leading talent, the company is well positioned to benefit from the tremendous growth in streaming and new digital platforms for music and more broadly, audio consumption.

Reservoir's music publishing catalog consists of more than 130,000 copyrights and is diverse across genre, geography, and time period with titles dating as far back as 1900, and hundreds of #1 releases worldwide.

The catalog includes evergreen compositions such as "It's Your Thing" by The Isley Brothers, "Ring of Fire" by Johnny Cash, "Take Me Home, Country Roads" by John Denver, and "Señorita" by Shawn Mendes and Camila Cabello.

The company's music publishing catalog is complemented by its frontline creative business, a collection of songwriters and...

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