12/17/2025 | Press release | Distributed by Public on 12/17/2025 08:01
Item 1.01. Entry into a Material Definitive Agreement.
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 (the "Assigned Patents") for an aggregate purchase price between $17,750,000 and $17,950,000 (determined in accordance with the terms of the Agreement), which shall be paid as follows: (i) $15,000,000 was paid at the initial closing (the "Initial Closing"), and (ii) between $2,750,000 and $2,950,000 (the "Holdback Amount") will be paid not more than four (4) months following the Initial Closing; provided, that the Holdback Amount will only be paid upon the satisfaction of certain conditions. In addition, Seller is entitled to receive up to $5,000,000 of certain royalty payments after the Initial Closing, subject to the terms and conditions of the Agreement. Seller also received a non-exclusive grant-back license to practice the Assigned Patents in connection with Seller's products.
Seller and the Purchaser have made customary representations and warranties and have agreed to certain covenants and confidentiality and indemnification obligations.
The foregoing description of the Agreement is qualified in its entirety by reference to the full text of the Agreement, a redacted copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein in its entirety.