Roth CH Acquisition IV (NASDAQ:ROCG) announced in an 8-K this afternoon that its shareholders approved its combination with renewable energy equipment-maker Tigo at a special meeting held on May 18.
At the meeting, holders of an aggregate of 4,814,516 shares of common stock were present, constituting a quorum for the transaction. The business combination was overwhelmingly approved by shareholders as holders of 4,809,768 shares voted in favor of the proposal and only 4,747 shares voted against it.
In connection with the vote to approve the deal, 1,945,251 shares of common stock of ROCG were tendered for redemption. But, the SPAC already saw 9,121,751 shares redeemed during an extension meeting in December 2022, bringing ROCG’s total redemption amount to 11,067,002 shares. Roth CH IV initially raised $116.7 million in gross proceeds during its IPO in August 2021, but is now left with $4.48 million after 96.23% of its trust was removed through redemptions.
Nonetheless, the parties expect to close the deal tomorrow, May 23. Following the completion of the transaction, ROCG intends to change its name to Tigo Energy, Inc. with its common stock and warrants expected to begin trading on the Nasdaq under the symbols “TYGO” and “TYGOW,” respectively, on May 24.
Roth CH Acquisition IV announced the $600 million combination with Tigo in December 2022. Campbell, California-based Tigo manufacturers components that optimize and enhance safety for solar panel arrays, with installations on seven continents
Terms Tracker for the Week Ending October 25, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Finally, a little more SPAC action this week with no less than four IPOs priced. That brings October’s tally to seven IPOs with one more...
At the SPAC of Dawn The rebound of the growth companies that made up the SPAC class of 2021 has been one of the bigger stories of second half of 2024, but not all of the de-SPACs are feeling the love equally. Instead, in many new sectors that hit the public markets together as a...
DT Cloud (NASDAQ:DYCQ) has entered into a definitive agreement to combine with Maius Pharmaceutical at an equity value of $250 million. Shanghai-based Maius is a drug developer and researcher focused on small-molecule chemical treatments for different forms of cancer. The combined company is expected to trade on the Nasdaq once the deal is completed in...
Charlton Aria Acquisition Corporation announced the pricing of its $75 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CHARU”, Thursday, October 24, 2024. The new SPAC plans to focus on industries that complement the management team’s and board of director’s background and network. The sponsor team for...
At the SPAC of Dawn As the market goes through a cooling period this week, new readouts for jobless claims and new home sales are set to hit later today. Jobless claims are of course something of a proxy indicator for SPACs as to when the Fed might continue to its rate-cutting process, while home...