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Tigo Energy, Inc. Announces Redemption of Warrants
CAMPBELL, Calif.--(BUSINESS WIRE)-- Tigo Energy, Inc. (Nasdaq: TYGO) (“TYGO” or the “Company”) today announced that it will redeem all of its outstanding
About this update from Tigo Energy, Inc.
[{"type":"text","content":" CAMPBELL, Calif.--(BUSINESS WIRE)--\nTigo 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.\n\n\nUnder 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.\n\n\nAll 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.\n\n\nAt 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.\n\n\nThe 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).\n\n\nQuestions 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.\n\n\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy any...