Tigo Energy, a provider of intelligent solar and energy storage solutions, and Roth CH Acquisition IV today announced a definitive agreement for a merger at a pre-money equity value of $600 million.
If approved, Tigo is expected to list on the Nasdaq under the ticker symbol TYGO.
Existing Tigo stockholders will roll 100% of their equity into the combined company. The transaction is expected to close in the second quarter of 2023.
The SPAC will issue 60 million newly issued shares to current stockholders of Tigo (subject to any adjustment for capital raising transactions by Tigo prior to the closing).
Existing Tigo stockholders will not receive any cash proceeds as part of this transaction and will roll 100% of their equity into the company. Assuming no redemptions, gross proceeds of approximately $117 million will be released from the SPAC’s trust account when the deal closes. Read more.
