Streetbeat News

ESAC

Esgen Acquisition Corp

Open

7.46

Mkt cap

49M

Volume

28K

High

7.77

P/E Ratio

-7.41

52-wk high

12.34

Low

6.50

Div yield

N/A

52-wk low

5.51

ESGEN Acquisition Corp. (NASDAQ: ESAC, ESACU, ESACW) and Sunergy Renewables have announced that ESGEN's shareholders approved a business combination, resulting in the formation of Zeo Energy Corp. The combined entity is expected to trade on the Nasdaq under the new ticker symbols 'ZEO' for common stock and 'ZEOWW' for warrants. This follows a shareholder meeting on March 6, 2024, with the business combination expected to close in the coming weeks.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:47 pm

Sunergy reported a decrease in Q3 2023 financial results with revenue dropping to $37.9M from $38.9M YoY and EPS falling to $3.97 from $7.63 YoY. The decline was attributed to higher interest rates affecting sales volume, increased costs for equipment and materials, and expenses related to a Business Combination.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 9:43 pm

ESGEN Acquisition Corp. (ESAC) and Sunergy Renewables have announced updated terms for their pending business combination. The revised terms include a commitment from ESGEN's sponsor to purchase up to $15 million in Convertible Preferred Equity Securities, with $10 million funded at closing and an option for an additional $5 million within six months. The pro forma implied enterprise value of the combined company is $390 million. Energy Spectrum will fund the purchase and has increased its original commitment. The transaction is expected to close in the first half of 2024 and is subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:39 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.