NEW YORK, Nov. 12, 2020 /PRNewswire/ -- B. Riley Principal
Merger Corp. II (NYSE: BMRG, BMRG WS, BMRG.U) ("BMRG" or the
"Company"), a special purpose acquisition company sponsored by an
affiliate of B. Riley Financial, Inc. (Nasdaq: RILY) ("B. Riley
Financial"), today announced that its stockholders have voted in
favor of the Company's proposed initial business combination (the
"business combination") with Eos Energy Storage LLC ("Eos"), a
leading manufacturer of safe, reliable, low-cost zinc battery
storage systems.
The business combination is expected to close on November 16, 2020, subject to the satisfaction of
all closing conditions. Upon the closing of the business
combination, the Company will be renamed "Eos Energy Enterprises,
Inc." and the Company will delist its units, shares of common stock
and warrants from the New York Stock Exchange. The post-business
combination company's common stock and warrants are expected to
begin trading on November 17, 2020 on
Nasdaq under ticker symbol "EOSE" and "EOSEW", respectively.
"We thank our financial partners and stockholders for their
support in this transaction" said Dan
Shribman, Chief Executive Officer of BMRG and Chief
Investment Officer of RILY. "We look forward to Eos's continued
growth during this exciting time in the energy storage market."
About Eos Energy Storage LLC
At Eos, we are on a mission to accelerate clean energy by
deploying stationary storage solutions that can help deliver the
reliable and cost-competitive power that the market expects in a
safe and environmentally sustainable way. Eos has been pursuing
this opportunity since 2008 when it was founded. Eos has more than
10 years of experience in battery storage testing, development,
deployment, and operation. The Eos Aurora®
system integrates Eos' aqueous, Znyth®
technology to provide a safe, scalable, and sustainable alternative
to lithium-ion. https://eosenergystorage.com
About B. Riley Principal Merger Corp. II
BMRG 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.
Forward Looking Statements
Certain statements made in this press release are "forward
looking statements" within the meaning of the "safe harbor"
provisions of the United States Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"estimates," "projected," "expects," "anticipates," "forecasts,"
"plans," "intends," "believes," "seeks," "may," "will," "should,"
"future," "propose" and variations of these words or similar
expressions (or the negative versions of such words or expressions)
are intended to identify forward-looking statements. These
forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside the Company's control, that
could cause actual results or outcomes to differ materially from
those discussed in the forward-looking statements. Important
factors, among others, that may affect actual results or outcomes
include: the inability of the Company to complete the contemplated
business combination with Eos; the inability to recognize the
anticipated benefits of the proposed business combination, which
may be affected by, among other things, the amount of funds
available in the Company's trust account following any redemptions
by the Company stockholders; the ability to meet Nasdaq's listing
standards following the consummation of the transactions
contemplated by the proposed business combination; costs related to
the proposed business combination; and those factors discussed in
the definitive proxy statement filed by the Company in connection
with the business combination under the heading "Risk Factors," and
other documents of the Company filed, or to be filed, with the
Securities and Exchange Commission. The Company does not undertake
any obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
Contacts:
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For Eos Energy
Storage LLC:
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Investors
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Media
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Ed
Yuen
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James
McCucker
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ir@eosenergystorage.com
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media@eosenergystorage.com
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For B.
Riley:
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Investors
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Media
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Brad
Edwards
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Andrew
Jennings
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ir@brileyfin.com
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press@brileyfin.com
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SOURCE B. Riley Principal Merger Corp. II