Module-level solar electronics supplier Tigo Energy is due to become a publicly listed company after signing an agreement for a business combination with Roth CH Acquisition IV, a US$117 million special purpose acquisition company.
The deal is expected to see the company listed on Nasdaq under the ticker symbol TYGO, with Tigo upper management due to remain in situ and shareholders to roll 100% of their equity into the new company.
Roth CH Acquisition will acquire Tigo for a pre-money equity value of US$600 million.
Tigo Energy has applied its technology to solar modules worldwide, targeting the full spectrum of projects from residential systems to large utility-scale installations. The company said that its combined deployed systems generate 1GWh of solar power daily.
Tigo Energy combines its Flex MLPE monitoring and optimisation products with a cloud-based Energy Intelligence platform, which it applies across the range of sectors it covers to optimise installation, module-level shutdown and monitoring.
In July this year, Tigo Energy filed an intellectual property infringement lawsuit against US against inverter manufacturer SMA Solar Technology America.
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.