US-based developer of utility-scale energy parks, Hecate Energy Group LLC, and EGH Acquisition Corp. have announced that they have entered into a definitive business combination agreement. The transaction would result in Hecate becoming a publicly listed company on Nasdaq under the ticker HCTE. The transaction values Hecate at a pre-money enterprise value of $1.2 billion, with up to $155 million from EGH’s trust account allocated toward project development, potential shareholder redemptions and transaction-related expenses. Following completion of the transaction, Hecate’s existing management team is expected to continue leading the combined company with all current equity rolled into the public entity. The transaction is anticipated to close in mid-2026 subject to customary shareholder and regulatory approvals. Cahill Gordon & Reindel LLP and Allen Overy Shearman Sterling (US) LLP are as legal advisors to Hecate and EGH.