EGH Acquisition Corp. and Hecate Energy LLC have provided an update regarding their previously announced business combination, confirming that the deal is expected to close in the first quarter of 2027. The filing details the resolution of litigation involving Hecate’s lenders, which the companies describe as having been fully settled.
The transaction, originally announced on January 22, 2026, involves a definitive business combination agreement between Hecate Energy Group LLC and EGH Acquisition Corp. The agreement values Hecate at a pre-money enterprise value of approximately $1.2 billion. Upon completion, Hecate intends to list its common stock on the Nasdaq Stock Market under the ticker symbol "HCTE."
On August 27, 2026, the parties entered into a mutual release and settlement agreement with respect to claims asserted in a declaratory judgment lawsuit filed in the Court of Chancery of the State of Delaware. The suit, styled NEC Fund VI HE Lender, LLC, NEC Fund VI HE Lender (Offshore), LLC, and NEC Fund VI HE Lender (Signature), LLC, Plaintiffs, v. Hecate Holdings LLC, Hecate Energy Group LLC, Repsol Renewables North America, Inc. and EGH Acquisition Corp, Defendants, has been resolved. The companies intend to file a motion to dismiss the suit following the settlement.
EGH Acquisition Corp. is a special purpose acquisition company focused on opportunities in the broad power market and energy transition sectors. Hecate Energy is a developer of utility-scale energy parks with a portfolio spanning solar, battery storage, wind, and thermal generation. The companies stated that they remain on track to advance regulatory, shareholder, and other customary closing processes for the transaction.
