Tigo Energy Inc. was valued at about $275 million in May when it raised a small $5.4 million Series E round.
Yet another Bay Area startup has agreed to go public via a merger with a blank check company.with New York-based Roth CH Acquisition IV Co. in a deal that is projected to value the combined companies at about $730 million.
Tigo CEO Zvi Alon will continue to lead the company along with the current management team when the deal is completed. The company, which, did not respond to requests for comment about its merger plans. Tigo projects that it will raise about $110 million in new capital through the merger if none of the investors in its SPAC partner ask for their money back. This is a feature of such mergers that has resulted in most SPACs having to return 80% or more of the money they raised.
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