Hecate Energy Group LLC, an energy infrastructure developer, and EGH Acquisition Corporation (EGHA,EGHAU,EGHAR) said on Thursday that they have decided to merge, which will make Hecate a Nasdaq-listed company under the ticker "HCTE."
The transaction values Hecate at a pre-money enterprise value of $1.2 billion. EGH's trust account will provide up to $155 million for the development of Hecate's utility-scale energy park portfolio, any EGH shareholder redemptions, and transaction expenses.
The transaction is anticipated to be closed in mid-2026.
Chris Bullinger, CEO of Hecate, said: "Access to the public capital markets will strengthen our ability to accelerate project development and monetization, while providing the flexibility to evolve into an Independent Power Producer and generate long term, recurring cash flows. A publicly traded platform also enhances our ability to attract institutional investors while building the energy infrastructure required to support the nations rapidly growing power needs."
Post transaction, Hecate's existing management team will continue to lead the combined company, and Hecate's shareholders will roll 100% of their equity holdings into the public company.
Hecate is a developer of utility-scale energy parks with a diversified portfolio spanning solar, battery storage, wind, and thermal generation.
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