Plum Acquisition IV says $245M convertible debt to be restructured ahead of CTR business combination
Plum Acquisition IV (PLMK) plans to convert $245M of CTR convertible debt to equity and PIPE commitments, simplifying CTR's capital structure. $205M will convert to equity at closing, while $40M will support a PIPE. The restructuring aims to strengthen CTR's balance sheet and secure project financing for Stage 1 Hell’s Kitchen. The business combination is expected to list CTR on Nasdaq in Q4 2026, subject to approvals.
