Roth CH Acxquisition IV in an 8-K announced that its shareholders voted in favor of combining with Tigo energy, a provider of intelligent solar and energy storage solutions.
Tigo and Roth CH Acquisition IV in December announced the business combination agreement at a pre-money equity value of $600 million. Tigo was expecting as much as $117 million in proceeds from the SPAC's trust.
However, the filing notes that 1,945,251 shares of Roth CH IV stock were redeeemed ahead of the vote. That adds to the 9,121,751 shares redeemed on an extension vote in December about two weeks after the deal was announced. After accounting for all redemptions, the SPAC would have had about $6 million remaining in trust.
Still, Tigo is expected to list on the Nasdaq tomorrow under the ticker symbol TYGO when the deal is due to close. Read more.