B. Riley Principal Merger Corp. II (BMRG) Shareholders Approve Eos Merger

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B. Riley Principal Merger Corp. II (BMRG) Shareholders Approve Eos Merger

B. Riley Principal Merger Corp. II (NYSE:BMRG) announced that its shareholders had approved its business combination with Eos Energy Storage at a special meeting earlier today.

The company announced yesterday that 37% of its shares had been redeemed for cash in connection with the meeting, but that still left the SPAC with sufficient cash available to close the deal once it secured shareholder approval. Today’s press release did not disclose actual redemption numbers, but that should be forthcoming in a subsequent 8-K.

The parties expect to complete the transaction November 16, with shares and warrants of the combined entity trading on the NYSE the next day under the ticker symbols “EOSE” and “EOSEW,” respectively.

BMRG announced its proposed $550 million deal to combine with Eos on September 8. The company provides utility-scale energy storage products using low-cost zinc batteries as an alternative to lithium-ion batteries.

 

 

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