Tigo Energy, Inc. Announces Redemption of Warrants
09 Agosto 2023 - 9:00AM
Business Wire
Tigo Energy, Inc. (Nasdaq: TYGO) (“TYGO” or the “Company”) today
announced that it will redeem all of its outstanding public
warrants and private warrants (together, the “Warrants”) to
purchase shares of the Company’s common stock (the “Common Stock”)
that were issued under the Warrant Agreement, dated as of August 5,
2021 (the “Warrant Agreement”), by and between the Company and
Continental Stock Transfer & Trust Company, as warrant agent,
and that remain outstanding following 5:00 p.m. New York City time
on September 8, 2023, for a redemption price of $0.01 per
warrant.
Under the terms of the Warrant Agreement, the Company is
entitled to redeem all of its outstanding Warrants for $0.01 per
Warrant if the reported closing price of the Company’s Common Stock
is at least $18.00 per share on each of twenty trading days within
a thirty trading day period ending on the third trading day prior
to the date on which a notice of redemption is given. This
performance threshold was achieved following the market close on
August 4, 2023.
All outstanding Warrants may be exercised by the holders thereof
until 5:00 p.m. New York City time on September 8, 2023 to purchase
shares of the Common Stock, at the exercise price of $11.50 per
share, payable in cash.
At the direction of the Company, Continental Stock Transfer
& Trust Company, in its capacity as warrant agent, has mailed a
notice of redemption to each of the registered holders of the
outstanding Warrants. Holders of Warrants in “street name”
should immediately contact their broker to determine their broker’s
procedure for exercising their Warrants since the process to
exercise is voluntary.
The shares of Common Stock underlying the Warrants have been
registered by the Company under the Securities Act of 1933, as
amended, and are covered by a registration statement filed on
Form S-1 with, and declared effective by, the Securities
and Exchange Commission
(Registration No. 333-272832).
Questions concerning redemption and exercise of the Warrants can
be directed to Continental Stock Transfer & Trust Company,
1 State Street, 30th Floor, New York, New York 10004, Attention:
Compliance Department, telephone number (212) 509-4000.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any TYGO securities and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offering, solicitation or sale would be unlawful.
About Tigo Energy, Inc.
Founded in 2007, Tigo Energy, Inc. (Nasdaq: TYGO) is a worldwide
leader in the development and manufacture of smart hardware and
software solutions that enhance safety, increase energy yield, and
lower operating costs of residential, commercial, and utility-scale
solar systems. Tigo combines its Flex MLPE (Module Level Power
Electronics) and solar optimizer technology with intelligent,
cloud-based software capabilities for advanced energy monitoring
and control. Tigo MLPE products maximize performance, enable
real-time energy monitoring, and provide code-required rapid
shutdown at the module level. The company also develops and
manufactures products such as inverters and battery storage systems
for the residential solar-plus-storage market. For more
information, please visit www.tigoenergy.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
about future financial and operating results, our plans,
objectives, expectations and intentions with respect to future
operations, products and services; and other statements identified
by words such as “will likely result,” “are expected to,” “will
continue,” “is anticipated,” “estimated,” “believe,” “intend,”
“plan,” “projection,” “outlook” or words of similar meaning. These
forward-looking statements are based upon the current beliefs and
expectations of Tigo’s management and are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, many of which are difficult to predict and generally
beyond our control. Actual results and the timing of events may
differ materially from the results anticipated in these
forward-looking statements. Factors which may cause actual results
to differ materially from current expectations include, but are not
limited to, our ability to effectively develop and sell our product
offerings and services, our ability to compete in the
highly-competitive and evolving solar industry; whether we continue
to grow our customer base; our ability to acquire or make
investments in other businesses, patents, technologies, products or
services to grow the business, and realize the anticipated benefits
therefrom; our ability to meet future liquidity requirements; our
failure to attract, hire retain and train highly qualified
personnel in the future; if we are unable to maintain key strategic
relationships with our partners and distributors and the other
factors described under the heading “Risk Factors” in the proxy
statement/prospectus filed by TYGO with the SEC and any subsequent
filings with the SEC we may make. There can be no assurance that
the forward-looking statements contained herein are reflective of
future performance to any degree. You are cautioned not to place
undue reliance on forward-looking statements as a predictor of
future performance as projected financial information and other
information are based on estimates and assumptions that are
inherently subject to various significant risks, uncertainties and
other factors, many of which are beyond our control. All
information set forth herein speaks only as of the date hereof, and
we disclaim any intention or obligation to update any
forward-looking statements as a result of new information, future
developments or otherwise occurring after the date of this
communication.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230809558689/en/
Media Relations Contact: Technica Communications Cait
Caviness tigoenergy@technica.inc
Investor Relations Contact: Gateway Group Matt Glover or
Tom Colton (949) 574-3860 TYGO@gateway-grp.com
Tigo Energy (NASDAQ:TYGO)
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