{"id":382377,"date":"2020-11-16T17:23:29","date_gmt":"2020-11-16T22:23:29","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=382377"},"modified":"2020-11-16T17:23:29","modified_gmt":"2020-11-16T22:23:29","slug":"b-riley-principal-merger-corp-ii-and-eos-energy-storage-complete-business-combination","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/b-riley-principal-merger-corp-ii-and-eos-energy-storage-complete-business-combination\/","title":{"rendered":"B. Riley Principal Merger Corp. II and Eos Energy Storage Complete Business Combination"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>B. Riley Principal Merger Corp. II and Eos Energy Storage Complete Business Combination<\/b><\/p>\n<p class=\"bwalignc\"><b>Combined Company Renamed \u201cEos Energy Enterprises, Inc.\u201d<\/b><\/p>\n<p class=\"bwalignc\"><b>Common Stock and Warrants to Trade on The Nasdaq Capital Market under the Ticker Symbols &#8220;EOSE&#8221; and \u201cEOSEW\u201d, respectively, Commencing on November 17, 2020<\/b><\/p>\n<p>NEW YORK &amp; EDISON, N.J.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nB. Riley Principal Merger Corp. II (NYSE: BMRG, BMRG WS, BMRG.U) (\u201cBMRG\u201d), a special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc. (Nasdaq: RILY) (\u201cB. Riley Financial\u201d), and Eos Energy Storage, LLC, a leading manufacturer of safe, reliable, low-cost zinc battery storage systems, today announced the completion of their previously announced business combination. The business combination has a projected pro forma market capitalization of approximately $500 million.\n<\/p>\n<p>\nUpon completion of the business combination, the combined company was renamed Eos Energy Enterprises, Inc. (&#8220;Eos&#8221; or the &#8220;Company&#8221;). Beginning November 17, 2020, the Company&#8217;s shares of common stock and warrants will begin trading on The Nasdaq Capital Market under the new ticker symbols &#8220;EOSE&#8221; and \u201cEOSEW\u201d, respectively.\n<\/p>\n<p>\nEos&#8217;s executive management team will continue to be led by Joe Mastrangelo, who will serve as the Company&#8217;s Chief Executive Officer, and Sagar Kurada, who will serve as the Company\u2019s Chief Financial Officer. The Company&#8217;s board of directors will be comprised of Joe Mastrangelo, Russell Stidolph, chairman of the board since 2018, Dan Shribman, B. Riley Financial\u2019s Chief Investment Officer and BMRG\u2019s former Chief Executive Officer, Alex Dimitrief, former President and Chief Executive Officer of General Electric\u2019s Global Growth Organization, Dr. Krishna Singh, founder of Holtec International, Marian \u201cMimi\u201d Walters, Chief Commercial Officer for Leading Edge Power Solutions, LLC and Audrey Zibelman, Chief Executive Officer at the Australian Energy Market Operator.\n<\/p>\n<p>\n\u201cThis milestone is the culmination of more than a decade of commitment to addressing the world\u2019s energy storage challenges,\u201d said Mr. Mastrangelo. \u201cWe have a proven, safe and sustainable storage solution that\u2019s ready to help accelerate and scale the clean energy transition. We are grateful to the B. Riley team for their partnership and support over these last few months and we look forward to sharing our progress with our shareholders as we continue to execute on our growth strategy.\u201d\n<\/p>\n<p>\n&#8220;In Eos we found an ideal partner to complete this business combination,&#8221; said Mr. Shribman. &#8220;The market opportunity for Eos is extremely promising. They are a mission-driven organization focused on accelerating clean energy adoption, and importantly, they have the technology to make this happen. We wouldn\u2019t have been able to close this transaction so quickly without the tireless work of the entire Eos team as well as the continued support of our financial partners and shareholders. We\u2019re proud to be a strategic partner as Eos looks toward a bright future ahead.\u201d\n<\/p>\n<p>\nB. Riley Securities, Inc. served as capital markets advisor to BMRG. White &amp; Case LLP acted as BMRG\u2019s legal advisor. Guggenheim Partners served as capital markets advisor to Eos in connection with the business combination. Evercore acted as financial advisor to Eos. Morrison Cohen LLP acted as legal advisor to Eos. KPMG served as the Company\u2019s public company readiness advisor. Deloitte served as the Company\u2019s auditor.\n<\/p>\n<p><b>About Eos Energy Enterprises, Inc.<\/b><\/p>\n<p>\nEos Energy Enterprises, Inc. is accelerating the shift to clean energy with positively ingenious solutions that transform how the world stores power. Our breakthrough Znyth\u00ae aqueous zinc battery was designed to overcome the limitations of conventional lithium-ion technology. Safe, scalable, efficient, sustainable\u2014and manufactured in the U.S\u2014it&#8217;s the core of our innovative systems that today provide utility, industrial, and commercial customers with a proven, reliable energy storage alternative. Eos was founded in 2008 and is headquartered in Edison, New Jersey.\n<\/p>\n<p><b>About B. Riley Principal Merger Corp. II<\/b><\/p>\n<p>\nBMRG was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis press release includes certain statements that may constitute &#8220;forward-looking statements&#8221; for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;continue,&#8221; &#8220;could,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;intends,&#8221; &#8220;may,&#8221; &#8220;might,&#8221; &#8220;plan,&#8221; &#8220;possible,&#8221; &#8220;potential,&#8221; &#8220;predict,&#8221; &#8220;project,&#8221; &#8220;should,&#8221; &#8220;would&#8221; and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about: the benefits of the business combination; the future financial performance of the Company; the Company&#8217;s plans for expansion and acquisitions; and changes in the Company&#8217;s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the parties&#8217; views as of any subsequent date, and the Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against the Company relating to the business combination and related transactions; (2) the ability to maintain the listing of the Company&#8217;s shares of common stock on NASDAQ following the business combination; (3) the risk that the business combination or the acquisitions disrupt the Company&#8217;s current plans and operations as a result of the consummation of the transactions described herein; (4) the ability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, (5) the ability of the Company&#8217;s business to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (6) costs related to the business combination; (7) changes in applicable laws or regulations; (8) the possibility that the Company may be adversely affected by other economic, business, and\/or competitive factors; and (9) other risks and uncertainties indicated from time to time in the Prospectus included as part of Amendment No. 1 to the Registration Statement on Form S-1 filed by BMRG with the Securities and Exchange Commission (\u201cSEC\u201d) on November 13, 2020, Registration No. 333-333-249713, including those under the heading &#8220;Risk Factors&#8221; therein, and other factors identified in BMRG\u2019s prior SEC filings and the Company\u2019s future filings with the SEC, available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=52329054&amp;newsitemid=20201116006055&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=1&amp;md5=395fa206a9f11ebf238372f3dd5f0c7c\">www.sec.gov<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201116006055r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201116006055\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201116006055\/en\/<\/a><\/span><\/p>\n<p><b>For Eos Energy Enterprises, Inc.<\/b><\/p>\n<p><i>Investors<br \/>\n<\/i><br \/>Ed Yuen<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:ir@eosenergystorage.com\">ir@eosenergystorage.com<\/a><\/p>\n<p><i>Media<br \/>\n<\/i><br \/>James McCusker<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:media@eosenergystorage.com\">media@eosenergystorage.com<\/a><\/p>\n<p><b>For B. Riley:<br \/>\n<\/b><br \/><i>Investors<br \/>\n<\/i><br \/><i>Brad Edwards<br \/>\n<\/i><br \/><i><a rel=\"nofollow\" href=\"mailto:ir@brileyfin.com\">ir@brileyfin.com<\/a><\/i><\/p>\n<p><i>Media<br \/>\n<\/i><br \/><i>Andrew Jennings<br \/>\n<\/i><br \/><i><a rel=\"nofollow\" href=\"mailto:press@brileyfin.com\">press@brileyfin.com<\/a><\/i><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York New Jersey<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Alternative Energy Energy Other Energy Utilities<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201116006055\/en\/839169\/3\/Eos_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>B. Riley Principal Merger Corp. II and Eos Energy Storage Complete Business Combination Combined Company Renamed \u201cEos Energy Enterprises, Inc.\u201d Common Stock and Warrants to Trade on The Nasdaq Capital Market under the Ticker Symbols &#8220;EOSE&#8221; and \u201cEOSEW\u201d, respectively, Commencing on November 17, 2020 NEW YORK &amp; EDISON, N.J.&#8211;(BUSINESS WIRE)&#8211; B. Riley Principal Merger Corp. II (NYSE: BMRG, BMRG WS, BMRG.U) (\u201cBMRG\u201d), a special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc. (Nasdaq: RILY) (\u201cB. Riley Financial\u201d), and Eos Energy Storage, LLC, a leading manufacturer of safe, reliable, low-cost zinc battery storage systems, today announced the completion of their previously announced business combination. The business combination has a projected pro forma market capitalization of approximately $500 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/b-riley-principal-merger-corp-ii-and-eos-energy-storage-complete-business-combination\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;B. Riley Principal Merger Corp. II and Eos Energy Storage Complete Business Combination&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-382377","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>B. Riley Principal Merger Corp. II and Eos Energy Storage Complete Business Combination - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/b-riley-principal-merger-corp-ii-and-eos-energy-storage-complete-business-combination\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"B. Riley Principal Merger Corp. II and Eos Energy Storage Complete Business Combination - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"B. Riley Principal Merger Corp. II and Eos Energy Storage Complete Business Combination Combined Company Renamed \u201cEos Energy Enterprises, Inc.\u201d Common Stock and Warrants to Trade on The Nasdaq Capital Market under the Ticker Symbols &#8220;EOSE&#8221; and \u201cEOSEW\u201d, respectively, Commencing on November 17, 2020 NEW YORK &amp; EDISON, N.J.&#8211;(BUSINESS WIRE)&#8211; B. Riley Principal Merger Corp. II (NYSE: BMRG, BMRG WS, BMRG.U) (\u201cBMRG\u201d), a special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc. (Nasdaq: RILY) (\u201cB. Riley Financial\u201d), and Eos Energy Storage, LLC, a leading manufacturer of safe, reliable, low-cost zinc battery storage systems, today announced the completion of their previously announced business combination. The business combination has a projected pro forma market capitalization of approximately $500 &hellip; Continue reading &quot;B. Riley Principal Merger Corp. 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Riley Principal Merger Corp. II (NYSE: BMRG, BMRG WS, BMRG.U) (\u201cBMRG\u201d), a special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc. (Nasdaq: RILY) (\u201cB. Riley Financial\u201d), and Eos Energy Storage, LLC, a leading manufacturer of safe, reliable, low-cost zinc battery storage systems, today announced the completion of their previously announced business combination. The business combination has a projected pro forma market capitalization of approximately $500 &hellip; Continue reading \"B. Riley Principal Merger Corp. II and Eos Energy Storage Complete Business Combination\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/b-riley-principal-merger-corp-ii-and-eos-energy-storage-complete-business-combination\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-16T22:23:29+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201116006055r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/b-riley-principal-merger-corp-ii-and-eos-energy-storage-complete-business-combination\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/b-riley-principal-merger-corp-ii-and-eos-energy-storage-complete-business-combination\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"B. 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