Roth CH Acquisition IV Co. and Tigo Energy Complete Business Combination
May 23 2023 - 3:15PM
Business Wire
Tigo Energy to Begin Trading on Nasdaq Under
the Ticker Symbol “TYGO” Beginning Wednesday, May 24th; Company to
Ring Nasdaq Opening Bell
Roth CH Acquisition IV Co. (Nasdaq: ROCG) (“Roth CH
IV” or “ROCG”), a publicly-traded special purpose acquisition
company, today announced the completion of its business combination
(the “Business Combination”) with Tigo Energy, Inc.
("Tigo", or the "Company"), a leading provider of
intelligent solar and energy storage solutions.
The Business Combination was approved by ROCG shareholders in a
special meeting held on May 18, 2023, and formally closed today.
The combined company will operate under the name “Tigo Energy,
Inc.” and will be led by Tigo’s senior management, who will
continue to serve in their current roles. Commencing at the open of
trading on May 24, 2023, Tigo’s common stock will trade on Nasdaq
under the ticker symbol “TYGO.”
“Completing our business combination with Roth CH IV is an
extraordinary milestone for our company, our employees, and our
stockholders,” said Tigo CEO Zvi Alon. “As we strive to meet
growing long-term demand for solar and energy storage solutions
across global residential, commercial, and utility markets, we
believe that becoming a public company enables us to accelerate our
growth strategy. We appreciate Roth CH IV’s support throughout this
transaction and expect to continue advancing our mission to enhance
safety, increase energy yield, and lower operating costs of solar
systems for our customers. We look forward to further investing in
our business as we strive to deliver world-class products to the
rapidly expanding solar and energy storage solutions markets.”
Additional details on the business combination can be found in
the proxy statement/prospectus and the proxy statement/prospectus
supplement filed by ROCG with the U.S. Securities and Exchange
Commission (the “SEC”) on April 26, 2023 and May 19, 2023,
respectively.
Advisors
White & Case LLP acted as legal advisor to Tigo and both DLA
Piper LLP and Loeb & Loeb LLP acted as legal advisors to Roth
CH IV.
About Tigo Energy, Inc.
Founded in 2007, Tigo is a worldwide leader in the development
and manufacture of smart hardware and software solutions that
enhance safety, increase energy yield, and lower operating costs of
residential, commercial, and utility-scale solar systems. Tigo
combines its Flex MLPE (Module Level Power Electronics) and solar
optimizer technology with intelligent, cloud-based software
capabilities for advanced energy monitoring and control. Tigo MLPE
products maximize performance, enable real-time energy monitoring,
and provide code-required rapid shutdown at the module level. The
company also develops and manufactures products such as inverters
and battery storage systems for the residential solar-plus-storage
market. For more information, please visit www.tigoenergy.com.
About Roth CH Acquisition IV Co.
Roth CH Acquisition IV Co. is a blank check company incorporated
for the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses. Roth CH is jointly managed
by affiliates of Roth Capital Partners and Craig-Hallum Capital
Group. For more information, visit www.rothch.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
about future financial and operating results, our plans,
objectives, expectations and intentions with respect to future
operations, products and services; and other statements identified
by words such as “will likely result,” “are expected to,” “will
continue,” “is anticipated,” “estimated,” “believe,” “intend,”
“plan,” “projection,” “outlook” or words of similar meaning. These
forward-looking statements are based upon the current beliefs and
expectations of Tigo’s management and are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, many of which are difficult to predict and generally
beyond our control. Actual results and the timing of events may
differ materially from the results anticipated in these
forward-looking statements. Factors which may cause actual results
to differ materially from current expectations include, but are not
limited to, our ability to effectively develop and sell our product
offerings and services, our ability to compete in the
highly-competitive and evolving solar industry; whether we continue
to grow our customer base; our ability to acquire or make
investments in other businesses, patents, technologies, products or
services to grow the business, and realize the anticipated benefits
therefrom; our ability to meet future liquidity requirements; our
failure to attract, hire retain and train highly qualified
personnel in the future; if we are unable to maintain key strategic
relationships with our partners and distributors and the other
factors described under the heading “Risk Factors” in the proxy
statement/prospectus filed by ROCG with the SEC and any subsequent
filings with the SEC we may make. There can be no assurance that
the forward-looking statements contained herein are reflective of
future performance to any degree. You are cautioned not to place
undue reliance on forward-looking statements as a predictor of
future performance as projected financial information and other
information are based on estimates and assumptions that are
inherently subject to various significant risks, uncertainties and
other factors, many of which are beyond our control. All
information set forth herein speaks only as of the date hereof, and
we disclaim any intention or obligation to update any
forward-looking statements as a result of new information, future
developments or otherwise occurring after the date of this
communication.
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version on businesswire.com: https://www.businesswire.com/news/home/20230523006003/en/
Investor Relations Contacts Matt Glover or Tom Colton
Gateway Group, Inc. (949) 574-3860 TYGO@gatewayir.com
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