ROC Energy Acquisition Corp.
ROCAR
NASDAQ Global Market0.45
USD
+0.13
- -
CIK
0001884516
CUSIP
77118V116
Return %
Stock
S&P500
1Y
187.74
26.53
3Y
48.67
76.60
5Y
48.67
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Daniel Jeffrey Kimes
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 16400 Dallas Parkway Dallas TX United States of America 75248
- IPO Date
- Dec 29, 2021
- CIK
- 0001884516
- Similar Companies
- Business
- ROC Energy Acquisition Corp., incorporated in 2021 and headquartered in Dallas, Texas, operates as a blank check company formed to effect mergers, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations primarily within the upstream oil and gas sector in the United States. The company does not have significant standalone operations but focuses on strategic business combinations in the traditional energy sector. In 2023, ROC Energy Acquisition Corp. completed a reverse merger transaction with Drilling Tools International Holdings, Inc. (DTI), a Houston-based leading oilfield services company that manufactures and rents downhole drilling tools essential for horizontal and directional drilling. Post-merger, the combined entity operates under the name Drilling Tools International, Inc. and is listed on the Nasdaq under the ticker symbol "DTI." Drilling Tools International, the merged entity, offers a differentiated, rental-focused portfolio of drilling tools including downhole drilling tools, surface control equipment such as blowout preventers and handling tools, as well as downhole products for producing wells. The company serves a diverse blue-chip customer base across 22 locations in North America, Europe, and the Middle East. The merger transaction, valued at approximately $319 million, bolstered the financial position of the combined company by generating significant cash proceeds that were used to repay existing debt and fund future growth initiatives through organic and inorganic opportunities. The strategic merger represents ROC Energy Acquisition Corp.'s transition from a blank check company to an operational oilfield services company with a focus on manufacturing and renting specialized drilling tools for the energy sector. This business integration aligns ROC’s original intent with Drilling Tools International’s established industry presence and operational capabilities, marking a significant shift in ROC’s business model and geographic breadth. The combination leverages DTI’s advanced product offerings and rental-centric strategy to capitalize on growth within the upstream oil and gas market domestically and internationally. This transaction is the latest major change reflecting ROC Energy Acquisition Corp.'s evolution in the energy and oilfield services industry through strategic acquisition and operational expansion.