Tigo Energy, Inc. completed the full repayment of its $50 million convertible promissory note issued to L1 Energy Capital Management on December 17, 2025, eliminating the note’s January 2026 maturity and removing a significant equity overhang that had been a source of investor concern.
The repayment removes a large portion of the company’s debt, improves liquidity, and simplifies the capital structure. By paying down the note with cash on hand, Tigo reduces refinancing risk and frees up capital that can be deployed toward growth initiatives.
The transaction comes on the heels of strong financial performance. In Q3 2025, Tigo reported revenue of $30.6 million, up 115% year‑over‑year, and returned to GAAP operating profitability. In Q2 2025, revenue was $24.1 million, up 89.4% year‑over‑year, with a net loss of $4.4 million versus $11.3 million in Q2 2024. The note repayment therefore improves leverage and supports the company’s positive trajectory.
Management highlighted that the freed capital will accelerate key growth programs, including the expansion of its domestic manufacturing partnership with EG4 Electronics and the scaling of its module‑level power electronics (MLPE) business. The partnership, backed by a 45X tax credit for clean manufacturing, positions Tigo to capture U.S. market share in high‑yield solar components.
CFO Bill Roeschlein said the repayment “removes a significant potential equity overhang, simplifies our capital structure and improves our ability to focus on driving profitable growth in 2026.” CEO Zvi Alon added that strong demand for MLPE products continues to drive market share gains.
By eliminating a major debt obligation, Tigo strengthens its balance sheet, reduces refinancing risk, and signals confidence in its execution strategy, positioning the company for continued growth in the competitive solar component market.
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