Form 4: ESGEN LLC Reports Changes in Beneficial Ownership Following Zeo Energy Corp. Business Combination

ESGEN LLC, a 10% owner of Zeo Energy Corp., reports changes in its securities holdings following the completion of a business combination on March 13, 2024.

Summary

• ESGEN LLC filed a Form 4 with the SEC on March 15, 2024, reporting changes in beneficial ownership of Zeo Energy Corp. (formerly ESGEN Acquisition Corporation).
• The changes are related to the completion of a business combination transaction on March 13, 2024, involving ESGEN, Sunergy Renewables, ESGEN OpCo, and others.
• As part of the business combination, ESGEN Acquisition Corporation domesticated as a Delaware corporation and changed its name to Zeo Energy Corp.
• ESGEN LLC forfeited 1,583,260 Class A ordinary shares of ESGEN prior to the domestication.
• Upon completion of the business combination, ESGEN LLC's 4,035,817 ESGEN Class A Ordinary Shares converted into an equal number of Zeo Class A Common Stock.
• ESGEN LLC also forfeited 778,381 shares of Zeo Class A Common Stock that were held in treasury by Zeo.

Sentiment

Score: 7

Explanation: The document is a standard regulatory filing detailing a pre-planned business combination. The sentiment is neutral as it simply reports the facts of the transaction.

Industry Context

This announcement reflects a common transaction structure involving a Special Purpose Acquisition Company (SPAC) merging with a private company to bring it to the public market. The business combination allows Sunergy Renewables to become a publicly traded entity, Zeo Energy Corp.

Stakeholder Impact

• Shareholders of ESGEN Acquisition Corporation saw their shares convert into shares of Zeo Energy Corp.
• Sunergy Renewables became a publicly traded company through the business combination.

Key Dates