SPAC Roth CH Acquisition IV (NASDAQ:ROCGU) has agreed to merge with solar power solutions provider Tigo Energy through a deal that estimates the pre-money equity value of Tigo at around $600M.
The deal is expected to generate gross proceeds of $117M for the combined company, assuming no redemptions by Roth CH IV shareholders.
The merger is expected to close in Q2 2023. Shares of the combined company are slated to be listed on Nasdaq under the symbol of TYGO.
Based in California, Tigo is a developer and provider of smart hardware and software solutions for solar energy systems. The company also offers inverters and battery storage systems for the residential solar energy market.
Roth CH IV went public through an initial public offering in August 2021, raising $115M.