05/15/2026 | Press release | Distributed by Public on 05/15/2026 14:39
Item 8.01. Other Events.
As previously disclosed, on December 16, 2025, Tigo Energy, Inc. (the "Company") and Tigo Energy AI Ltd. (together with the Company, "Seller") entered into a patent purchase agreement (the "Agreement") with Tigo Energy Innovations LLC (the "Purchaser"), pursuant to which Seller sold to the Purchaser certain patents. Pursuant to the Agreement, the Seller was paid $15,000,000 at the initial closing, and an additional amount between $2,750,000 and $2,950,000 was to be paid upon the satisfaction of certain conditions specified in the Agreement, not more than four (4) months after the initial closing, which deadline was subsequently extended by mutual agreement of the parties.
The Seller satisfied such specified conditions, and on May 14, 2026, the Seller was paid $2,750,000. Net proceeds to the Seller were approximately $583,000, after the repayment of expenses.