Tigo Energy, Inc. (Tigo), a leading provider of intelligent solar and energy storage solutions, has signed a definitive agreement with L1 Energy for the purchase of $50 million of newly issued Convertible Notes to support the Company’s future growth opportunities through the deployment of its intelligent solar and energy storage solutions and repayment of existing debt. The transaction closed concurrently with signing.
“We look forward to deploying this capital to further our mission of providing critical solar solutions that optimize safety, yield and costs,” said Zvi Alon, Chairman and CEO of Tigo. “This investment, coupled with anticipated proceeds from our business combination with Roth CH Acquisition IV Co., puts us in a position of strength as we look towards entering the public markets and continuing our robust growth trajectory.”
On December 6, 2022, Tigo and Roth CH Acquisition IV Co. (ROCG) announced a business combination agreement that is expected to result in Tigo becoming a public company. Upon closing of the transaction, subject to approval by ROCG stockholders and other customary requirements, the combined company will be named “Tigo Energy, Inc.” and is expected to list on NASDAQ under the ticker symbol “TYGO”. The transaction is expected to close in the second quarter of 2023.
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