By Will Feuer

Tigo Energy Inc., a provider of solar and energy-storage solutions, has agreed to go public through a $600 million merger with Roth CH Acquisition IV Co., a special-purpose acquisition company.

Tigo said the deal is expected to close in the second quarter of 2023, and the combined company is expected to trade on the Nasdaq under the ticker TYGO.

Existing Tigo shareholders would be issued 60 million newly issued shares by Roth CH Acquisition IV, roll 100% of their equity into the combined company and retain about 82% ownership of the combined company, assuming no redemptions by SPAC shareholders, Tigo said.

Assuming no Roth CH Acquisition IV stockholders exercise their redemption rights, gross proceeds of about $117 million would be released to the combined company from a trust account that was set up in connection with the merger, Tigo said.

Current Tigo Chief Executive and Chairman Zvi Alon would continue to lead the company along with the current management team, the company said.

Tigo services the residential, commercial and utility-scale solar market with hardware and software solutions that increase solar production, decrease operating costs, and enhance systems safety, according to the company.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

December 06, 2022 09:25 ET (14:25 GMT)

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