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Plum Acquisition Corp. IV Class A ( (PLMK) ) just unveiled an announcement.
On December 19, 2025, Plum Acquisition Corp. IV and American Critical Resources announced they had signed a non-binding letter of intent for a potential business combination that, if completed, would create a publicly listed U.S. company focused on geothermal power and critical minerals, including lithium from the Hell’s Kitchen project at the Salton Sea. The contemplated deal is intended to accelerate ACR’s development timeline, bolster its balance sheet, and tap U.S. capital markets to expand a project that has already secured more than $285 million in private investment and completed a feasibility study, positioning it as a strategically important domestic source of renewable energy and critical minerals, though the transaction remains subject to due diligence, definitive documentation, shareholder and regulatory approvals, and there is no assurance it will close.
More about Plum Acquisition Corp. IV Class A
Plum Acquisition Corp. IV is a publicly traded special purpose acquisition company (SPAC) listed on Nasdaq that focuses on identifying and merging with businesses to bring them to the U.S. public markets. Its latest target, American Critical Resources, is a subsidiary of Controlled Thermal Resources formed to advance the Hell’s Kitchen geothermal lithium project at California’s Salton Sea, which aims to produce baseload renewable power and large-scale lithium carbonate while exploring recovery of additional critical minerals vital to U.S. energy, manufacturing, and defense supply chains.
Average Trading Volume: 19,677
Technical Sentiment Signal: Strong Buy
Current Market Cap: $252.5M
See more data about PLMK stock on TipRanks’ Stock Analysis page.