What Happened to QualTek Services?
Return
0.0%
Current Price
$0
Peak Price
â
Trust Size
$672M
Summary
QualTek Services was a telecom infrastructure services company providing installation, maintenance, and construction for wireless carriers and fiber networks. The company went public via SPAC merger with Roth CH Acquisition II Corp in February 2022. It filed for Chapter 11 bankruptcy in May 2023 under the weight of $307 million in debt.
What Happened
Roth CH Acquisition II Corp merged with QualTek in February 2022, just as the Fed began raising rates. The telecom services company was immediately crushed by rising borrowing costs on its leveraged balance sheet. QualTek was delisted from Nasdaq in early 2023 and filed for Chapter 11 in May 2023. It emerged from bankruptcy in July 2023 as a private company, with stockholders losing all equity.
Timeline
2021-02-26
S-1 Registration Filed
2022-01-24
Merger Proxy Filed (DEFM14A)
2023-07-20
Last SEC Filing