B. Riley II announced that 37% of the SPAC’s total public shares were submitted for redemption in advance of the stockholders’ meeting set for Nov. 12 to vote on the business combination with Eos Energy Storage. The proposed deal values Eos at $550 million.
Following the redemptions , the SPAC said it expects to have over $150 million in cash available at the closing of the business combination. If approved, the merger is expected to close Nov. 16. Eos manufactures zinc battery storage systems. Read more.
