Hecate Energy Group to Become Public Company Through Business Combination with EGH Acquisition Corp.

Company Overview - Hecate Energy Group LLC is an independent energy infrastructure developer focused on utility-scale energy parks, with a diversified portfolio that includes solar, battery storage, wind, and thermal generation [1][2] - Founded in 2012, Hecate has developed the largest independent portfolio of renewable and thermal power projects totaling over 47 gigawatts (GW) across eight U.S. power markets and 26 states [2][9] - The company has successfully sold over 12 GW of projects and has more than 4 GW currently under exclusivity or advanced negotiations for sale [2] Business Combination - Hecate has entered into a definitive business combination agreement with EGH Acquisition Corp, which will lead to Hecate becoming a public company listed on Nasdaq under the ticker symbol "HCTE" [1][4] - The transaction values Hecate at a pre-money enterprise value of $1.2 billion, with EGH's trust account providing up to $155 million for Hecate's development needs [4] - The transaction is expected to close in mid-2026, subject to customary closing conditions, including shareholder approval from EGH [4] Strategic Positioning - Hecate is strategically positioned to benefit from the increasing demand for powered land, driven by the growth of data centers and large-load customers [1][3] - The partnership with EGH is seen as a transformational milestone that will enhance Hecate's ability to accelerate project development and monetize its portfolio [3] - Hecate's management team will continue to lead the combined company post-transaction, with existing shareholders rolling 100% of their equity into the public entity [4] Financial and Operational Highlights - Hecate has developed over 5 GW of projects that are currently under construction or in operation, representing over $6 billion in energy investments [9] - The company has entered into over 50 power purchase agreements (PPAs) exceeding 6 GW of capacity with 24 counterparties [9] - Hecate's active development pipeline includes over 47 GW of power projects, indicating significant growth potential [9]