Tigo Energy plans to go public in $730 million SPAC merger - Silicon Valley Business Journal

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.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Breakingviews - Circle’s SPAC flop does the public market a favorStablecoins are marketed as a kind of cryptocurrency that offers a steady, predictable value. For the companies that create them, the opposite turns out to be true. Circle Internet Financial’s plan to merge with a listed blank-check firm called Concord Acquisition fell apart by mutual consent on Monday. Since Circle is effectively impossible to value right now, it has probably done the market a favor.
Source: Breakingviews - 🏆 470. / 51 Read more »

Silicon Valley VC Brad Gerstner to liquidate $450M SPAC - San Francisco Business TimesAltimeter Capital's Altimeter Growth Corp. 2 hasn't been able to find a merger partner.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »