STOCK TITAN
  1. Home
  2. News
  3. ESAC

ESGEN Acquisition Corporation - ESAC STOCK NEWS

Welcome to our dedicated page for ESGEN Acquisition Corporation news (Ticker: ESAC), a resource for investors and traders seeking the latest updates and insights on ESGEN Acquisition Corporation stock.

ESGEN Acquisition Corporation (Nasdaq: ESACU, ESAC, ESACW) is a special purpose acquisition company (SPAC) dedicated to effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. Founded by leaders with a strong background in energy infrastructure, ESGEN seeks to leverage its expertise to identify and partner with companies poised for growth.

ESGEN is led by Chief Executive Officer Andrejka Bernatova and Chief Financial Officer Nader Daylami. The corporation is affiliated with Energy Spectrum Capital, a Dallas-based private equity firm boasting over 25 years of experience and $4.5 billion in total equity capital commitments. ESGEN’s approach combines seasoned investment strategies with a commitment to fostering innovation and profitability in its portfolio companies.

In its latest endeavor, ESGEN has announced a business combination with Sunergy Renewables, LLC, a leading provider of residential solar energy systems and energy efficiency solutions. Sunergy, founded in 2005 and headquartered in New Port Richey, Florida, offers photovoltaic solar, battery-based power, and storage systems targeted at residential consumers in high-growth markets with limited competitive saturation. Sunergy’s growth strategy includes a rapid sales-to-installation cycle, which has led to significant increases in both net revenue and gross profit.

Financial highlights for the first half of 2023 include a net revenue increase to $48.8 million and a gross profit rise to $9.6 million, driven by a 65% growth in solar system installations. Sunergy has expanded its market presence by entering new states such as Missouri and plans further expansion into Ohio, Illinois, and Virginia in 2024. The anticipated business combination with ESGEN is set to close in the first quarter of 2024, subject to stockholder approval, and aims to position the combined entity strongly in the public markets under the new name, Zeo Energy Corp.

News

ESGEN Acquisition Corp. and Sunergy Renewables Complete Business Combination

Rhea-AI Summary
ESGEN Acquisition Corp. completes its business combination with Sunergy Renewables, forming Zeo Energy Corp. The company will trade on Nasdaq under the ticker symbols 'ZEO' and 'ZEOWW'. Zeo aims to accelerate growth in the residential solar industry, leveraging Sunergy's expertise. The merger is expected to position Zeo favorably in the transition to a decarbonized economy, with gross proceeds of around $18 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
acquisition
-
News

ESGEN Acquisition Corp. Shareholders Approve Proposed Business Combination with Sunergy Renewables

Rhea-AI Summary
ESGEN Acquisition Corp. shareholders approve business combination with Sunergy Renewables; Combined company to be renamed Zeo Energy Corp and listed on Nasdaq Stock Exchange.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
acquisition
-
News

ESGEN Acquisition Corp. Announces Registration Statement Effectiveness in Connection with Business Combination with Sunergy Renewables

Rhea-AI Summary
ESGEN Acquisition Corp. and Sunergy Renewables, LLC announce the approval of the Business Combination by the SEC. The combined company will be named Zeo Energy Corp. and will be listed on the Nasdaq Stock Exchange. The Special Meeting to finalize the Business Combination is scheduled for March 6, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
acquisition
News

Sunergy Reports Third Quarter and First Nine Months 2023 Financial Results

Rhea-AI Summary
Sunergy Renewables, LLC reported a 31% increase in net revenue for the first nine months of 2023, reaching $86.7 million. The company also amended the terms of its business combination agreement with ESGEN Acquisition Corp. to become publicly listed on the Nasdaq Stock Exchange. Solar system installations increased by approximately 35% compared to the same year-ago period. However, the third quarter of 2023 saw a 3% decrease in net revenue, with gross profit and net income also declining. The company aims to expand into three additional states in 2024, including Ohio, Illinois, and Virginia.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
earnings
-
News

ESGEN Acquisition Corp. Announces Updated Transaction Terms for its Pending Business Combination with Sunergy Renewables

Rhea-AI Summary
ESGEN Acquisition Corp. and Sunergy Renewables, LLC announced amended transaction terms for its pending business combination, with ESGEN's sponsor committing to purchase up to $15 million in Convertible Preferred Equity Securities, funded by Energy Spectrum. The updated pro forma implied enterprise value of the combined company is expected to be $390 million. The completion of the proposed Transaction is subject to customary closing conditions and is anticipated to occur in the first half of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
acquisition
-
News

ESGEN Acquisition Corporation Announces Postponement of Extraordinary General Meeting to Friday, October 20, 2023

Rhea-AI Summary
ESGEN Acquisition Corporation announces the postponement of its extraordinary general meeting to consider an extension of the date to consummate an initial business combination. The meeting will now take place on October 20, 2023, instead of October 17, 2023. Shareholders are encouraged to vote as soon as possible.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
acquisition
News

Sunergy Reports First Half 2023 Results

Rhea-AI Summary
Sunergy Renewables reports strong financial results for the first half of 2023, with net revenue increasing by 80% to $48.8 million and gross profit increasing to $9.6 million. Solar system installations also grew by 65%. The company has submitted an S-4 filing to the SEC for review in relation to its business combination agreement with ESGEN Acquisition Corp. Sunergy's CEO expresses confidence in the company's growth strategy and plans to enter the public markets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
earnings
-
News

Sunergy to Present at the ROTH MKM 10th Annual Solar & Storage Symposium at SPI on September 12, 2023

Rhea-AI Summary
Sunergy Renewables invited to present at solar symposium, CEO to speak at 4pm PT on Sept 12. Focus on driving sustainable, profitable growth. Business combination with ESGEN expected to close in Q4 2023 or Q1 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
conferences
-
News

Sunergy, a Provider of Residential Solar and Energy Efficiency Solutions, Signs Business Combination Agreement to Become a Public Company Through a Combination with ESGEN Acquisition Corp.

Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
acquisition

FAQ

What is the market cap of ESGEN Acquisition Corporation (ESAC)?

The market cap of ESGEN Acquisition Corporation (ESAC) is approximately 48.6M.

What is ESGEN Acquisition Corporation?

ESGEN Acquisition Corporation is a special purpose acquisition company (SPAC) focused on merging with or acquiring businesses, particularly within the energy infrastructure sector.

Who leads ESGEN Acquisition Corporation?

ESGEN is led by Chief Executive Officer Andrejka Bernatova and Chief Financial Officer Nader Daylami.

What recent business move has ESGEN made?

ESGEN has announced a business combination with Sunergy Renewables, a provider of residential solar energy systems, slated to close in the first quarter of 2024.

What are the financial highlights of Sunergy for the first half of 2023?

For the first half of 2023, Sunergy reported a net revenue increase to $48.8 million and a gross profit rise to $9.6 million, driven by a 65% growth in solar system installations.

What markets does Sunergy serve?

Sunergy serves residential consumers in high-growth markets, particularly in Florida, Texas, Arkansas, and recently expanded to Missouri with plans to enter Ohio, Illinois, and Virginia in 2024.

What is the expected new name for the combined entity post-business combination?

Upon completing the business combination, the new entity will be named Zeo Energy Corp.

When is the business combination between ESGEN and Sunergy expected to close?

The business combination is expected to close in the first quarter of 2024, subject to stockholder approval.

What are the benefits anticipated from the ESGEN and Sunergy business combination?

The combined entity is expected to benefit from expanded market presence, enhanced financial performance, and increased operational capabilities in the residential solar energy sector.

What will be Zeo Energy Corp.’s new ticker symbols on Nasdaq?

Zeo’s common stock and warrants are expected to trade under the ticker symbols 'ZEO' and 'ZEOWW' respectively.

How does ESGEN plan to support Sunergy post-merger?

ESGEN aims to leverage its investment track record, operational experience, and strategic insight to support Sunergy’s growth and value creation in the public markets.

Stock ESAC logo
ESGEN Acquisition Corporation

Nasdaq:ESAC

ESAC Rankings

N/A Ranked by Market Cap
N/A Ranked by Dividends

ESAC Stock Data

48.59M
1.41M
14%
3.28%
0.13%
Shell Companies
Financial Services
Link
United States
Dallas