Morrison Cohen Serves as Legal Advisor to Eos Energy Storage LLC in SPAC Transaction with Affiliate of B. Riley Financial, Inc.
September 8, 2020 - Morrison Cohen served as legal advisor to Eos Energy Storage LLC in connection with its definitive merger agreement for a business combination with B. Riley Principal Merger Corp. II, a special purpose acquisition company (SPAC) sponsored by an affiliate of B. Riley Financial, Inc. This newly-formed business combination will become a publicly listed company to be renamed Eos Energy Enterprises, Inc., with an approximate implied enterprise value of $550 million. The closing, which is subject to conditions including approval of the SPAC's stockholders, is expected to occur in Q4 2020.
Eos was founded in 2008 with a focus on designing and delivering low cost, renewable clean energy. The core of its Eos Aurora™ energy storage system is its patented Eos Zynth™ (zinc hybrid cathode) battery technology, manufactured in the U.S.
The Morrison Cohen team which advised on the transaction was led by M&A partners David P. LaGalia and Zachary Jacobs and capital markets partners Jack Levy and Anthony M. Saur, along with partners Alan M. Levine (Executive Compensation & Employee Benefits), Isaac P. Grossman (Tax), and Jessica L. Lipson, CIPP/US (Technology, Data Privacy & Intellectual Property), with additional support provided by associates Bryan R. Joggerst (Corporate), Michael T. Wasenius (Corporate), Benjamin A. Vitcov (Executive Compensation & Employee Benefits), and Hunter J. Book (Tax).
Additional details about the transaction can be found here.
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