Announcement • Jan 22
Hecate Energy Group, LLC entered into a definitive business combination agreement to acquire EGH Acquisition Corp. (NasdaqGM:EGHA) in a reverse merger transaction for an enterprise value of $1.2 billion. Hecate Energy Group, LLC entered into a definitive business combination agreement to acquire EGH Acquisition Corp. (NasdaqGM:EGHA) in a reverse merger transaction for an enterprise value of $1.2 billion on January 22, 2026. The transaction values Hecate at a pre-money enterprise value of $1.2 billion. Following closing, Hecate Energy Group’s shareholders will roll 100% of their equity holdings into the public company. EGH’s sponsor alongside Hecate’s management and certain key Hecate shareholders have committed to customary post-closing lock-up agreements. The transaction would result in Hecate becoming a public company to be listed on Nasdaq under the ticker symbol “HCTE.”
Hecate Energy Group’s existing management team will continue to lead the combined company.
The transaction is subject to customary closing conditions, including approval by EGH’s shareholders, target board, and approval of offer by acquirer board. The deal was unanimously approved by the boards of directors of both Hecate and EGH and is anticipated to close in mid-2026.
Cohen & Company Capital Markets, LLC acted as financial advisor and lead capital markets advisor for EGH Acquisition Corp. PEI Global Partners LLC acted as financial advisor for Hecate Energy Group, LLC. Cahill Gordon & Reindel LLP acted as legal advisor for Hecate Energy Group, LLC. Allen & Overy LLP acted as legal advisor for EGH Acquisition Corp. Seaport Global is also serving as a capital markets advisor to EGH.