Nigerian Punters have a broad range of best betting site in Nigeria to pick from. Regrettably, all online betting sites do not proffer the similar amount of satisfaction as well as trustworthiness. submitted by completesports to u/completesports [link] [comments] Some sport betting sites have stood the test of time and have content the unending taste for finest, Hassle free sport betting in Nigeria. Most people are discovering it simple to bet on sports, but some still favor the conventional method of visiting a local casino to place a bet. Here are some advantages as to why online best betting site in Nigeria are preferred. Easy To Access Online betting provides a lot of flexibility when it comes to betting. You do not have to leave your house so that you can place a bet. With the online casino, you can play in soothe of your home. Apart from the physical advantage that online betting offers, you can also place a bet at the last minute. When you hear of a particular tip, you will only visit the website, log in, as well as place your bet. There is no plan ahead, and you will not miss out on anything. Almost all online casinos have mobile applications making it more available. Easy to use means that you can place a bet and verify results from anywhere! https://preview.redd.it/djovqxwvt2m51.jpg?width=400&format=pjpg&auto=webp&s=80b6b723233f327b95124e6f7de81a7399760054 Access from Anywhere Online sports betting platforms have a benefit over land casinos because you can admission them over the internet. Anybody from anywhere can access the casinos from their platforms. Bettors who love racing as well as want to bet on it won’t have to worry about visiting their local casino. They can admission it from anywhere. Get Better Value for Your Money If you own an online casino, it implies that you do not require paying rent. You can use those profits to perk up your services as well as attract more to your clients by giving then bonuses. Easy To Get Started Compared with some hobbies, online betting doesn’t require any equipment or learning new rules or more effort to contribute. Even though these things can be rewarding, they take a lot of time plus effort. |
LIST OF TOP 10 FOOTBALL BETTING SITE IN NIGERIA 2019 submitted by segsea to u/segsea [link] [comments] LIST OF TOP 10 FOOTBALL BETTING SITE IN NIGERIA (2019-2020)The aim of this post is to provide information about the available football betting websites a Nigerian trader can use in order to start betting on their live football teams. Please note that am not directly recommending any website in this blog. They are for information purposes only. You should carry out your own due diligence before making any transactions with them.With the increasing surge of football traders in Nigeria, many are now seeing the opportunity to start making money from football betting right from their homes. The reality of making money online cannot be underestimated as thousands of Nigerians are now venturing into legal, and genuine profitable internet businesses.Many people have been making money via this platform, hence, i decided to come up with this piece on top 10 sports betting sites in Nigeria.1. NAIRABET Nairabet – It is the first, oldest and the strongest betting company in Nigeria. Fast paying and good customer support. Offers 100% bonus on first deposit plus bonus on accumulated bets. You can also place bets on a match or games that have already started or still in-play.2. 360BET360bet – It has the highest odds on the Internet also. This sportsbook welcome bonus offer which consists of a 100% bonus of your first qualifying deposit up to a maximum bonus of 30,000NGN.• A minimum deposit of 2 000 NGN is required to be eligible for the bonus.• In order to qualify for the bonus a customer should not transfer any of the funds located in his sportsbook account to another product and he should consume the total deposit amount to sports betting plus 54% bonus on any game staked/bet both on single bet & accumulated bets.Withdrawal takes maximum of 24 hours. You can also place bets on a match or games that have already started or still in-play. This company is highly recommended for customers who wants to stake/ or place bets with their mobile phones or laptop. They have a special package called keno that constantly puts money in your pocket. They offer their agent 30% and super Agents 45% on weekly profit. They are highly recommended. 3. STAKEGAINS Stakegains – This company have the highest odds in Nigeria and Africa as a whole.When it comes to excitement, no other sport comes close to Football. But if you really want to experience a shot of pure adrenaline then try online betting on a football match! From touching the highs after a winning goal to feeling the lows of a disastrous red card – each moment is amplified when you have a bet riding on a soccer match.Now there is no doubt that with so many variables, betting on sport is risky business. But with the right soccer prediction app, you can be sure of making your bets based on more than just your gut feeling. Stakegains, one of the top soccefootball prediction sites on the World Wide Web, provides the most updated and well-researched football betting tips, winning goal predictions and soccer team picks to its members. Stakegains is not a betting site, but it can help you keep your winning streak going strong with accurate, and current soccer predictions. And by current we mean you will get today’s soccer tips fresh off the ball. 4. MERRYBET Merrybet – It is among the fastest paying betting company in Nigeria for online customers. It only takes few hours to withdraw your money from your betting account to your bank account. 100% bonus on first deposit plus bonus on accumulated bets. You can also place bets on a match or games that have already started or still in-play. Their odds are very high too. This company is highly recommended. 5.BET365NAIJA Bet365NAIJA – This company have the highest odds in Nigeria and Africa as a whole. They also offer bonuses too customers on bet slip. They offer 30% to their agents and 40% to their operators on weekly profit. Bet365NAIJA is highly recommended.You are assured of uncommon betting and administrative experience, tailored to excellent customer service with live betting fully activated. If you decide to open an account with us and place your funds, such funds are safe. Because we believe we are holding your money in trust for you for an immediate payout when you win or want your money back.6. 1960BET1960BET – It is also the fastest paying betting company in Nigeria for online customers. It only takes few hours to withdraw your money from your betting account to your bank account. 100% bonus on first deposit plus bonus on accumulated bets. You can also place bets on a match or games that have already started or still in-play. 7. BET9JA Bet9ja – It is one of the fastest growing sports betting company in Nigeria. Their payout is very fast. They offer 100% bonus on first deposit plus bonus on accumulated bets. You can also place bets on a match or games that have already started or still in-play. 8. BETREPUBLICANA Betrepublicana – Their odds are very high too. Fastest paying betting company in Nigeria of winnings to both Agents and customers, and they also offers bonus to customers on bet slip. As an Agent you get 30% weekly profit while Operators Get 40% weekly profit plus other benefit attached. Their agents never run into loss. This company is highly recommended. 9. BETCOLONY Betcolony – It’s a fastest paying betting company in Nigeria for online customers, fast payments of winnings to both Agents and customers, offers bonus to customers on bet slip. Their odds are very high too. As an Agent you get 30% weekly profit while Operators Get 40% weekly profit plus other benefit attached. Their agent never runs into loss. This company is highly recommended. 10. LOVINGBET Lovingbet – It is also among the fastest paying betting company in Nigeria for online customers who want to play with their laptop or mobile phones. It only takes few hours to withdraw your money from your betting account to your bank account. 100% bonus on first deposit plus bonus on accumulated bets. You can also place bets on a match or games that have already started or still in-play. This company is highly recommended for customers who wants to stake/ or place bets with their mobile phones or laptop.The Nigerian Sport betting company (sites) are the same standard as any international bookmaker Company (site’s). You can place bets on all international gaming events with them. With some of these sites you can even place bet during live games. Some also support all types of games, Soccer, Basketball etc. Apart from international games, some are also supporting bets on NIGERIAN PREMIER LEAGUE.NOTE: To all readers kindly note that the above company are subject to reveals (for shuffling) according to their performance and agent and customer patronage. Please make your choice wisely and thank you for your reading patience. Secondly, the above company Financial policy and Percentage are subject to change, kindly go through their Monetary policy and Rules to determine your choice. |
Stripe is acquiring Paystack, a startup out of Lagos, Nigeria that, like Stripe, provides a quick way to integrate payments services into an online or offline transaction by way of an API. Paystack currently has around 60,000 customers, including small businesses, larger corporates, fintechs, educational institutions, and online betting companies, and the plan will be for it to continue operating independently, the companies said.
Paystack had been on Stripe's radar for some time prior to acquiring it.
In 2018, Stripe led an $8 million funding round for Paystack, with others participating including Visa and Tencent.
In the last several years, Stripe has made a number of investments into startups building technology or businesses in areas where Stripe has yet to move.
"But with Paystack, clearly they've put a lot of original thinking into how to do things better. There are some details of Stripe that we consider mistakes, but we can see that Paystack 'gets it,' it's clear from the site and from the product sensibilities, and that has nothing to do with them being in Africa or African."
Stripe and Paystack postponed the original announcement in part because of the current situation in the country.
BMRG (B Riley Merger Corp II) Signs LOI with Eos Energy Storage 6/24 submitted by GhostfacexProdigy to SPACs [link] [comments] Key Points - great technology (IP) which is safer and more reliable vs competitors - energy storage facing CAGR of 20% for next two decades - industry (including solar) which has been BOOMING (check out all the clean energy, EV and Solar Stocks) - continued subsidies for energy storage/ carbon reduction/clean energy/infrastructure - EOS management very strong with ties to industry, big energy players and state - B Riley backing gives many resources - vast market segments include – commercial/industrial, utility renewables and other energy sectors - climate change + population growth + raising the poverty line increase demand for (clean) energy and (safer) storage - growing ($$$) popularity of ESG from investors and hedge funds alike - this is the groups 2nd SPAC (see BRPM below) - significant risks (see below) Strong management from Eos, unmatched IP and a booming industry make BMRG/EOS a buy for long steady growth despite obvious risks IMO. This industry is f*cking hot (plus factor is growing SPAC popularity) .. just look at SPAQ today.. I would really appreciate anyone with a bear case or battery or industry knowledge to chime in the comments! Structure: Lawyers: Winston & Strawn & Ellenoff, Grossman & Schole (both top of the line) BF Riley running their own books (could be a nice bonus IMO) 175m Trust May 2020 IPO 18mo Deadline 1 Unit = 1 + ½ Warrant Additional Terms: 1. Crescent Term: $9.20 threshold 2. FPA: $25M units at $10.00 3. Limitation on Redemption Rights: 20% 4. Chardan is QIU 5. 50m PIPE? (need to confirm) “The proposed transaction with BRPM II would provide Eos with approximately $225 million of additional new equity financing, including $50 million of proceeds from a fully backstopped PIPE by B. Riley Financial, assuming no public shareholders of BRPM II exercise their redemption rights at closing. The proposed transaction is expected to be completed in the fourth quarter of 2020, subject to, among other things, the negotiation and execution of a definitive agreement providing for the transaction, the approval by BRPM II’s shareholders, satisfaction of the conditions stated in the LOI and other customary closing conditions. Accordingly, there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated.” “We believe now is the ideal time for management to unlock the full potential of a truly disruptive solution to address a clear need in the global energy storage market." Daniel Shribman (BMRG CEO) “The global energy storage ecosystem is expected to grow with a CAGR of 20% over the next 20 years. The current market is primarily served by lithium ion batteries manufactured in China and South Korea – and with our zinc-based system offering a safer, greener, and less expensive solution, it is our strong belief that Eos is poised for significant long-term growth and material cash flow generation.” Joe Mastrangelo (Eos CEO) “Over the course of the last 12 months, more than 20 energy storage systems in Korea have caught fire, and in April last year, a 2MW battery array in Arizona caught fire and eventually exploded. Fires linked to lithium-ion batteries also occurred in Europe and Australia.” “According to experts with the Newton-Evans Research Co., the U.S. energy storage market will grow to more than $5 billion by 2024, which is about an eight-fold increase from 2019 levels” EOS Founded in 2008, Eos Energy Storage is an established provider of long-duration energy storage focused on providing a domestic solution to a global need: low-cost, safe, and environmentally friendly energy storage. Eos has proven its technology over a ten-year period of testing, development, deployment, and operation, and is focused on accelerating the growth of clean energy in the United States by deploying large scale storage solutions that deliver reliable and cost-competitive power in a safe and environmentally sustainable way. The Eos Aurora® system is designed to meet the requirements of the grid-scale energy storage market using Eos' patented aqueous, zinc-powered battery technology to offer a safe, scalable, fully recyclable and sustainable alternative to lithium-ion battery power. Its patented Znyth® technology requires just five core commodity materials – all of which are Earth-abundant, non-conflict minerals, and are 100% recyclable. Eos' battery is non-flammable and does not require any moving parts or pumps, which allows for simple upkeep and market-leading low-cost operations.” Values: Our Quest. We will not rest until the world has sustainable and affordable energy on demand. Our Ethos. We believe in the power of great chemistry– in our products and our team. Our Drive. We invent, iterate & deliver the best solutions for the future of energy, today. Management team is strong, deep and experienced with industry connections and “led by a team of professionals with deep scientific, regulatory and operating experience across the energy value chain. Joe Mastrangelo, Eos' Chief Executive Officer, is a 25-year General Electric ("GE") veteran who has both traditional and renewable energy experience, and served as president and CEO of Gas Power Systems for GE's Power division. Russ Stidolph, Chairman of the Eos Board of Directors, is founder and Managing Director of AltEnergy LLC, a private equity firm focused on alternative energy investing.” “It is clear to me that storage is the key to scaling clean energy faster. Eos has established a solid foundation of learning and has optimized a lithium alternative solution that is ready to scale and meet the world’s rapidly growing demand for energy storage. I’m proud to lead this team at an exciting and crucial moment for the company.” said Mastrangelo. https://www.businesswire.com/news/home/20170905005875/en/Eos-Energy-Storage-Appoints-Energy-Industry-Veterans (management experience) https://eosenergystorage.com/eos-energy-storage-strengthens-leadership-to-prepare-for-future-growth-with-two-executive-appointments/ (management additions 1) https://www.businesswire.com/news/home/20170905005875/en/Eos-Energy-Storage-Appoints-Energy-Industry-Veterans (management additions 2) Competitive Advantages: https://preview.redd.it/43q1aq9abx951.png?width=663&format=png&auto=webp&s=07f8d50aebaeb7179cc61781c883d74e13c5d289 “The high-temperature climate of the Mediterranean poses many challenges for lithium chemistries requiring costly HVAC additions, where Eos does not It is the first development in the region, with potential follow-on opportunities for larger utility scale projects across the entire Mediterranean.” “This project is not only our initial entry into the dynamic Greece energy storage market, but it’s also an opportunity to demonstrate the many advantages of our storage technologies including performance, safety, and environmental conditions,” said Joe Mastrangelo, CEO of Eos Energy Storage.” IP is great with a superior and safer product vs competition Industry Growth: (could go deeper but its basically common knowledge) https://preview.redd.it/a3o62nbbbx951.png?width=602&format=png&auto=webp&s=bbd2d61dd660a3e445c283e05656b62378529622 https://preview.redd.it/wq8prf3cbx951.png?width=621&format=png&auto=webp&s=b3eaf40b34ab1f6272f2475efa747f9f4b09b2db BMRG (B Riley Merger Corp II) Management is pretty tight knit here featuring B Riley himself, B Riley current and past execs + BRPM I team + plus few others. Posted it from the S1 so its pretty detailed. I do like the management here and they have decent energy/IB connections but it could be stronger IMO Daniel Shribman, 36 CEO, CFO & Director Mr. Shribman helps oversee the asset base of B. Riley Financial alongside chief executive officer Bryant Riley. This asset base consists of several cash flow generating operating businesses in addition to cash and investments of roughly $750 million. The investment portfolio includes bilateral loans and small cap equity positions in both public and private markets. In virtually all investments, B. Riley Financial is involved at the board level and active in business and capital allocation decisions. Mr. Shribman has served as a member of the board of directors of Alta (NYSE: ALTG) since February 2020, when it completed its business combination with BRPM, where Mr. Shribman was chief financial officer. Mr. Shribman brings experience in both public and private equity to us. Prior to joining B. Riley, Mr. Shribman was a Portfolio Manager at Anchorage Capital Group, L.L.C., a special situation asset manager, from 2010 to 2018. During Mr. Shribman’s tenure at Anchorage Capital Group, L.L.C., he led investments in dozens of public and private opportunities across the general industrial, transportation, automotive, aerospace, gaming, hospitality and real estate industries. Prior to Anchorage Capital Group, L.L.C., Mr. Shribman worked at Tinicum Capital Partners, a private equity firm, and in the restructuring advisory group at Lazard (NYSE: LAZ). 📷 Board of Directors Bryant Riley, 53 Chairman Mr. Riley served as the chairman of B. Riley & Co., LLC since founding the stock brokerage firm in 1997 until its combination with FBR Capital Markets & Co., LLC in 2017; chief executive officer of B. Riley & Co., LLC from 1997 to 2006; and as chairman of BRPM from April 2019 until the completion of its business combination in February 2020. Mr. Riley has served as a member of the board of directors of Babcock & Wilcox Enterprises, Inc. (NYSE: BW) since April 2019 and Select Interior Concepts, Inc. (Nasdaq: SIC) since November 2019. Mr. Riley also previously served on the board of directors of Franchise Group, Inc. (Nasdaq: FRG) from September 2018 to March 2020 and Sonim Technologies, Inc. (Nasdaq: SONM) from October 2017 to March 2019. Mr. Riley received his B.S. in Finance from Lehigh University. Mr. Riley’s experience and expertise in the investment banking industry will provide our board of directors with valuable insight into the capital markets. Kenneth Young, 56 Director Mr. Young has served as chief executive officer of B. Riley Principal Investments, LLC, a wholly-owned subsidiary of B. Riley Financial, which acquires, invests and operates companies across several verticals, including communications, media, construction and retail, with a focus on maximizing cash flows through operational expertise, since October 2016. Mr. Young served as the chief executive officer and as a director of BRPM from October 2018 until its initial business combination with Alta (NYSE: ALTG) in February 2020. Mr. Young currently serves as chief executive officer at Babcock & Wilcox (NYSE: BW) since November 2018. Mr. Young has served as a member of the board of directors of Orion Energy Systems, Inc. (Nasdaq: OESX) since 2017 and currently serves on the board of directors of Sonim Technologies (Nasdaq: SONM). He also served on the board of directors of Franchise Group, Inc. (Nasdaq: FRG), Standard Diversified (NYSE: SDI), and Globalstar, Inc. (NYSE: GSAT). FMr. Young served as the president and chief executive officer of Lightbridge Communications Corporation. Patrick J. Bartels Jr., 44 Director Mr. Bartels has been the managing member of Redan Advisors LLC, a firm that provides fiduciary services, including board of director representation and strategic planning advisory services, for domestic and international public and private business entities, since December 2018. Prior to founding Redan Advisors LLC, Mr. Bartels was a senior investment professional with 20 years of experience. From 2002 to December 2018, Mr. Bartels served as a Managing Principal at Monarch Alternative Capital LP, a private investment firm that focused primarily on event-driven credit opportunities. Prior to Monarch, he served as research analyst for high yield investments at Invesco Ltd. (NYSE: IVZ), where he analyzed primary and secondary debt offerings of companies in various industries. His professional experience includes investing in complex financial restructurings and process-intensive situations in North America, Asia and Europe in a broad spectrum of industries. Mr. Bartels currently serves on the board of directors of Arch Coal, Inc. (NYSE: ARCH), Hexion Inc., Brinks Home Security and Centric Brands Inc. (Nasdaq: CTRC); he serves on the Nominating and Corporate Governance Committee and the Audit Committee for Arch Coal, Inc. Mr. Bartels began his career at PricewaterhouseCoopers LLP, where he was a Certified Public Accountant. Jamie Kempner, 62 Director Mr. Kempner has been president of LSH Partners since December 2016. Prior to this position, Mr. Kempner was president of Loeb Partners Corporation from 2014 to 2016. Mr. Kempner began his career at Lazard (NYSE: LAZ), in 1983 and was named a general partner in 1993. Mr. Kempner was involved in banking and capital markets transactions and managed Lazard’s Corporate Finance department from 1995-1998 and founded Lazard’s Logistics and Transportation group in 2000. His most recent role was as senior advisor in Lazard’s general industrials banking group, with emphasis on companies in the Transportation and Logistics industries. Mr. Kempner also served on the Underwriting and Private Placement Committees of Lazard. Mr. Kempner has extensive experience advising on a number of corporate transactions and initial public offerings. Mr. Kempner has been a member of the board of directors of Private Wealth Partners since September 2018, and served on the board of directors of BRPM from 2018 until the completion of its business combination in February 2020. Mr. Kempner received a B.A. from Yale University and an M.B.A. from Harvard Business School. Timothy Presutti, 51 Director Mr. Presutti currently serves as managing partner and chief investment officer of Woody Creek Capital Partners LLC, a private investment firm he founded in 2007 that specializes in private credit and special situation investing. Mr. Presutti has been the sole owner and managing director of Woody Creek Capital Partners LLC since 2006, Woody Creek Capital Management LLC since 2018 and Wocap II GP, LLC since 2017. Mr. Presutti additionally serves as senior advisor to the Bosarge Family Office based in Houston, TX. Mr. Presutti has nearly twenty-four years of finance experience, spanning investing, portfolio management, trading and capital markets. As co-founder of Broadbill Investment Partners, an investment management firm, Mr. Presutti oversaw all capital raising for two funds and a co-investment platform. He was a member of the Investment Committee and is now a senior advisor, minority owner and managing director to Broadbill Investment Partners since 2011. Mr. Presutti started his career at Bankers Trust, which was acquired by Deutsche Bank Securities Inc. in 1999; his last position there was managing director and head of High Yield trading from 2005 to 2007. Mr. Presutti served on the board of directors of BRPM from 2018 until the completion of its business combination in February 2020. Robert Suss, 51 Director Mr. Suss has been co-chief executive officer of UK Agricultural Finance, a company that provides underwriting to local farming communities in the United Kingdom, since 2016, and non-executive chairman of EG Capital Advisors, a London-based investment firm, since 2017. Mr. Suss has served on the board of directors of Kingswood Group PLC since 2019. Until 2015, Mr. Suss was a managing director at Goldman Sachs & Co. LLC where he worked for 18 years in the Investment Management Division. Mr. Suss served on the audit committees of the board of directors of Pace Holdings Corp. from 2015 until the completion of its business combination in March 2017 and TPG Pace Holdings Corp. from 2016 until the completion of its business combination in November 2019. Mr. Suss also served on the board of directors of BRPM from 2018 until the completion of its business combination in February 2020. BRPM (B Riley Merger Corp I): Alta Equipment Company didn’t seem to fair too well.. thanks to covid? (s/h vote was Feb 11 2020) Looks like B Riley bought more equity in April .. good sign? “Alta Equipment Group, Inc. owns and operates integrated equipment dealership platforms. It sells, rents, and provides parts and service support for several categories of equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment and other industrial and construction equipment through its branch network. The company was founded in 1984.” Possible Catalysts: New Sales Orders Definitive Agreement (and then Merger) Release of (Positive) Financial Data Proprietary Advancements (R&D) Risks/Downside: Deal could fall through (definitive agreement not guaranteed or even possible SEC investigation/lawsuits) Financial data released might be poor or priced in Lower Risks: I couldn’t find many other institutions involved besides B Riley (maybe two others) Relatively low price action since IPO àLOI (institutions/sector analysts haven’t yet priced/awaiting progress?) “The JOBS Act, enacted in 2012, contains provisions that, among other things, relax certain reporting requirements for qualifying public companies” (keep seeing this in S1’s can someone confirm it is standard?) BRMG Shareholder value may or may not decrease with mergecombination Recent Media/Links: https://eosenergystorage.com/eos-energy-storage-supplies-energy-storage-to-microgrid-developments-for-electrifying-rural-communities-in-nigeria/ (new project 7/2020) https://www.prnewswire.com/news-releases/b-riley-principal-merger-corp-ii-and-eos-energy-storage-announce-letter-of-intent-for-business-combination-301083051.html (LOI) https://www.businesswire.com/news/home/20171025005889/en/PSEG-Installs-Commissions-1-MWh-Eos-Aurora http://www.prweb.com/releases/eos_energy_storage_to_deploy_its_latest_generation_battery_system_in_pala_california_energy_storage_yard/prweb17203153.htm (California Energy Commission Partnership) https://www.energy-storage.news/blogs/video-global-energy-storage-market-forecast-with-guidehouse-insights (Energy Storage Analyst Forecast) https://www.energy-storage.news/blogs/building-battery-storage-systems-to-meet-changing-market-requirements (Industry/Competition) https://www.businesswire.com/news/home/20130520006558/en/Eos-Energy-Storage-Raises-15-Million-Strategic ( Funding back in 2013) http://www.prweb.com/releases/eos_energy_storage_teams_with_motor_oil_and_ingeteam_to_bring_efficient_energy_storage_solutions_to_large_greek_refineries/prweb17125184.htm “Eos was recently (5/2020) awarded a contract to manufacture, design, and deliver a 1MW 4MWh behind the meter (BTM) Battery Energy Storage System (BESS) in Motor Oil’s Corinth Refinery in Athens, Greece and has partnered with Ingeteam to provide the full AC integrated system with their INGECON Bseries Inverter + Miniskid MV solution and INGECON EMS Plant Controller. This is Eos’ first project in Greece, expanding upon their European commercial presence.The project will enable Motor Oil to optimize their onsite generation without fear of flammability or thermal runaway due to Eos’ inherent and proven safety. Eos’ Energy Storage System will provide full 100% depth of discharge, flexible charge/discharge capabilities with no impact to degradation, minimal auxiliary power requirements, and a 15+ year life. The benefits to Motor Oil are financial savings in fuel and maintenance, and reduced energy costs during times of peak demand, all increasing the efficiency and resiliency of the refinery’s electrical grid system. “We consider Eos battery technology as the most competitive and attractive one compared to Li Ion batteries, capable of offering a lot of opportunities in large scale BESS in the future,” said Vassilis Viziryiannakis, Head of Electricity Business of Motor Oil Hellas. SEC Files Here Disclaimer: I own BMRGU and am building an ESG SPAC portfolio.. stay tuned for future DD TLDR: Is BMRG going to see significant growth with definitive agreement/merger or did industry analysts already price it in? |
BMRG (B Riley Merger Corp II) Signs LOI with Eos Energy Storage 6/24 submitted by GhostfacexProdigy to SPACfeed [link] [comments] Key Points - great technology (IP) which is safer and more reliable vs competitors- energy storage facing CAGR of 20% for next two decades- industry (including solar) which has been BOOMING (check out all the clean energy, EV and Solar Stocks)- continued subsidies for energy storage/ carbon reduction/clean energy/infrastructure- EOS management very strong with ties to industry, big energy players and state- B Riley backing gives many resources- vast market segments include – commercial/industrial, utility renewables and other energy sectors- climate change + population growth + raising the poverty line increase demand for (clean) energy and (safer) storage- growing ($$$) popularity of ESG from investors and hedge funds alike (check out alike link ESG is $$)- this is the groups 2nd SPAC (see BRPM below)- significant risks (see below) Strong management from Eos, unmatched IP and a booming industry make BMRG/EOS a buy despite obvious risks IMO Structure:Lawyers: Winston & Strawn & Ellenoff, Grossman & Schole (both top of the line)BF Riley running their own books (could be a nice bonus IMO)175m TrustMay 2020 IPO18mo Deadline1 Unit = 1 + ½ Warrant Additional Terms:
“We believe now is the ideal time for management to unlock the full potential of a truly disruptive solution to address a clear need in the global energy storage market." Daniel Shribman (BMRG CEO) “The global energy storage ecosystem is expected to grow with a CAGR of 20% over the next 20 years. The current market is primarily served by lithium ion batteries manufactured in China and South Korea – and with our zinc-based system offering a safer, greener, and less expensive solution, it is our strong belief that Eos is poised for significant long-term growth and material cash flow generation.” Joe Mastrangelo (Eos CEO) “Over the course of the last 12 months, more than 20 energy storage systems in Korea have caught fire, and in April last year, a 2MW battery array in Arizona caught fire and eventually exploded. Fires linked to lithium-ion batteries also occurred in Europe and Australia.” “According to experts with the Newton-Evans Research Co., the U**.S. energy storage market will grow to more than $5 billion by 2024**, which is about an eight-fold increase from 2019 levels” EOS Founded in 2008, Eos Energy Storage is an established provider of long-duration energy storage focused on providing a domestic solution to a global need: low-cost, safe, and environmentally friendly energy storage. Eos has proven its technology over a ten-year period of testing, development, deployment, and operation, and is focused on accelerating the growth of clean energy in the United States by deploying large scale storage solutions that deliver reliable and cost-competitive power in a safe and environmentally sustainable way. The Eos Aurora® system is designed to meet the requirements of the grid-scale energy storage market using Eos' patented aqueous, zinc-powered battery technology to offer a safe, scalable, fully recyclable and sustainable alternative to lithium-ion battery power. Its patented Znyth® technology requires just five core commodity materials – all of which are Earth-abundant, non-conflict minerals, and are 100% recyclable. Eos' battery is non-flammable and does not require any moving parts or pumps, which allows for simple upkeep and market-leading low-cost operations.” Values:Our Quest. We will not rest until the world has sustainable and affordable energy on demand. Our Ethos. We believe in the power of great chemistry– in our products and our team. Our Drive. We invent, iterate & deliver the best solutions for the future of energy, today. Management team is strong, deep and experienced with industry connections and “led by a team of professionals with deep scientific, regulatory and operating experience across the energy value chain. Joe Mastrangelo, Eos' Chief Executive Officer, is a 25-year General Electric ("GE") veteran who has both traditional and renewable energy experience, and served as president and CEO of Gas Power Systems for GE's Power division. Russ Stidolph, Chairman of the Eos Board of Directors, is founder and Managing Director of AltEnergy LLC, a private equity firm focused on alternative energy investing.” “It is clear to me that storage is the key to scaling clean energy faster. Eos has established a solid foundation of learning and has optimized a lithium alternative solution that is ready to scale and meet the world’s rapidly growing demand for energy storage. I’m proud to lead this team at an exciting and crucial moment for the company.” said Mastrangelo. https://www.businesswire.com/news/home/20170905005875/en/Eos-Energy-Storage-Appoints-Energy-Industry-Veterans (management experience) https://eosenergystorage.com/eos-energy-storage-strengthens-leadership-to-prepare-for-future-growth-with-two-executive-appointments/ (management additions 1) https://www.businesswire.com/news/home/20170905005875/en/Eos-Energy-Storage-Appoints-Energy-Industry-Veterans (management additions 2) Competitive Advantages: https://preview.redd.it/p1vw9jlf2hc51.png?width=663&format=png&auto=webp&s=a4434d5482058e9d8b80d5fe533748f4e233c16f “The high-temperature climate of the Mediterranean poses many challenges for lithium chemistries requiring costly HVAC additions, where Eos does not It is the first development in the region, with potential follow-on opportunities for larger utility scale projects across the entire Mediterranean.” “This project is not only our initial entry into the dynamic Greece energy storage market, but it’s also an opportunity to demonstrate the many advantages of our storage technologies including performance, safety, and environmental conditions,” said Joe Mastrangelo, CEO of Eos Energy Storage.” IP is great with a superior and safer product vs competition https://preview.redd.it/85edweug2hc51.png?width=602&format=png&auto=webp&s=16d9ce8c8255794184ec3a2402c59db5e16d7703 ![img](2ct7mxjh2hc51 " ") BMRG (B Riley Merger Corp II) Management is pretty tight knit here featuring B Riley himself, B Riley current and past execs + BRPM I team + plus few others. Posted it from the S1 so its pretty detailed. I do like the management here and they have decent energy/IB connections but it could be stronger IMO Daniel Shribman, 36CEO, CFO & Director Mr. Shribman helps oversee the asset base of B. Riley Financial alongside chief executive officer Bryant Riley. This asset base consists of several cash flow generating operating businesses in addition to cash and investments of roughly $750 million. The investment portfolio includes bilateral loans and small cap equity positions in both public and private markets. In virtually all investments, B. Riley Financial is involved at the board level and active in business and capital allocation decisions. Mr. Shribman has served as a member of the board of directors of Alta (NYSE: ALTG) since February 2020, when it completed its business combination with BRPM, where Mr. Shribman was chief financial officer. Mr. Shribman brings experience in both public and private equity to us. Prior to joining B. Riley, Mr. Shribman was a Portfolio Manager at Anchorage Capital Group, L.L.C., a special situation asset manager, from 2010 to 2018. During Mr. Shribman’s tenure at Anchorage Capital Group, L.L.C., he led investments in dozens of public and private opportunities across the general industrial, transportation, automotive, aerospace, gaming, hospitality and real estate industries. Prior to Anchorage Capital Group, L.L.C., Mr. Shribman worked at Tinicum Capital Partners, a private equity firm, and in the restructuring advisory group at Lazard (NYSE: LAZ). Board of Directors Bryant Riley, 53Chairman Mr. Riley served as the chairman of B. Riley & Co., LLC since founding the stock brokerage firm in 1997 until its combination with FBR Capital Markets & Co., LLC in 2017; chief executive officer of B. Riley & Co., LLC from 1997 to 2006; and as chairman of BRPM from April 2019 until the completion of its business combination in February 2020. Mr. Riley has served as a member of the board of directors of Babcock & Wilcox Enterprises, Inc. (NYSE: BW) since April 2019 and Select Interior Concepts, Inc. (Nasdaq: SIC) since November 2019. Mr. Riley also previously served on the board of directors of Franchise Group, Inc. (Nasdaq: FRG) from September 2018 to March 2020 and Sonim Technologies, Inc. (Nasdaq: SONM) from October 2017 to March 2019. Mr. Riley received his B.S. in Finance from Lehigh University. Mr. Riley’s experience and expertise in the investment banking industry will provide our board of directors with valuable insight into the capital markets. Kenneth Young, 56Director Mr. Young has served as chief executive officer of B. Riley Principal Investments, LLC, a wholly-owned subsidiary of B. Riley Financial, which acquires, invests and operates companies across several verticals, including communications, media, construction and retail, with a focus on maximizing cash flows through operational expertise, since October 2016. Mr. Young served as the chief executive officer and as a director of BRPM from October 2018 until its initial business combination with Alta (NYSE: ALTG) in February 2020. Mr. Young currently serves as chief executive officer at Babcock & Wilcox (NYSE: BW) since November 2018. Mr. Young has served as a member of the board of directors of Orion Energy Systems, Inc. (Nasdaq: OESX) since 2017 and currently serves on the board of directors of Sonim Technologies (Nasdaq: SONM). He also served on the board of directors of Franchise Group, Inc. (Nasdaq: FRG), Standard Diversified (NYSE: SDI), and Globalstar, Inc. (NYSE: GSAT). FMr. Young served as the president and chief executive officer of Lightbridge Communications Corporation. Patrick J. Bartels Jr., 44Director Mr. Bartels has been the managing member of Redan Advisors LLC, a firm that provides fiduciary services, including board of director representation and strategic planning advisory services, for domestic and international public and private business entities, since December 2018. Prior to founding Redan Advisors LLC, Mr. Bartels was a senior investment professional with 20 years of experience. From 2002 to December 2018, Mr. Bartels served as a Managing Principal at Monarch Alternative Capital LP, a private investment firm that focused primarily on event-driven credit opportunities. Prior to Monarch, he served as research analyst for high yield investments at Invesco Ltd. (NYSE: IVZ), where he analyzed primary and secondary debt offerings of companies in various industries. His professional experience includes investing in complex financial restructurings and process-intensive situations in North America, Asia and Europe in a broad spectrum of industries. Mr. Bartels currently serves on the board of directors of Arch Coal, Inc. (NYSE: ARCH), Hexion Inc., Brinks Home Security and Centric Brands Inc. (Nasdaq: CTRC); he serves on the Nominating and Corporate Governance Committee and the Audit Committee for Arch Coal, Inc. Mr. Bartels began his career at PricewaterhouseCoopers LLP, where he was a Certified Public Accountant. Jamie Kempner, 62Director Mr. Kempner has been president of LSH Partners since December 2016. Prior to this position, Mr. Kempner was president of Loeb Partners Corporation from 2014 to 2016. Mr. Kempner began his career at Lazard (NYSE: LAZ), in 1983 and was named a general partner in 1993. Mr. Kempner was involved in banking and capital markets transactions and managed Lazard’s Corporate Finance department from 1995-1998 and founded Lazard’s Logistics and Transportation group in 2000. His most recent role was as senior advisor in Lazard’s general industrials banking group, with emphasis on companies in the Transportation and Logistics industries. Mr. Kempner also served on the Underwriting and Private Placement Committees of Lazard. Mr. Kempner has extensive experience advising on a number of corporate transactions and initial public offerings. Mr. Kempner has been a member of the board of directors of Private Wealth Partners since September 2018, and served on the board of directors of BRPM from 2018 until the completion of its business combination in February 2020. Mr. Kempner received a B.A. from Yale University and an M.B.A. from Harvard Business School. Timothy Presutti, 51Director Mr. Presutti currently serves as managing partner and chief investment officer of Woody Creek Capital Partners LLC, a private investment firm he founded in 2007 that specializes in private credit and special situation investing. Mr. Presutti has been the sole owner and managing director of Woody Creek Capital Partners LLC since 2006, Woody Creek Capital Management LLC since 2018 and Wocap II GP, LLC since 2017. Mr. Presutti additionally serves as senior advisor to the Bosarge Family Office based in Houston, TX. Mr. Presutti has nearly twenty-four years of finance experience, spanning investing, portfolio management, trading and capital markets. As co-founder of Broadbill Investment Partners, an investment management firm, Mr. Presutti oversaw all capital raising for two funds and a co-investment platform. He was a member of the Investment Committee and is now a senior advisor, minority owner and managing director to Broadbill Investment Partners since 2011. Mr. Presutti started his career at Bankers Trust, which was acquired by Deutsche Bank Securities Inc. in 1999; his last position there was managing director and head of High Yield trading from 2005 to 2007. Mr. Presutti served on the board of directors of BRPM from 2018 until the completion of its business combination in February 2020. Robert Suss, 51Director Mr. Suss has been co-chief executive officer of UK Agricultural Finance, a company that provides underwriting to local farming communities in the United Kingdom, since 2016, and non-executive chairman of EG Capital Advisors, a London-based investment firm, since 2017. Mr. Suss has served on the board of directors of Kingswood Group PLC since 2019. Until 2015, Mr. Suss was a managing director at Goldman Sachs & Co. LLC where he worked for 18 years in the Investment Management Division. Mr. Suss served on the audit committees of the board of directors of Pace Holdings Corp. from 2015 until the completion of its business combination in March 2017 and TPG Pace Holdings Corp. from 2016 until the completion of its business combination in November 2019. Mr. Suss also served on the board of directors of BRPM from 2018 until the completion of its business combination in February 2020. BRPM (B Riley Merger Corp I): Alta Equipment Company didn’t seem to fair too well.. thanks to covid? (s/h vote was Feb 11 2020)Looks like B Riley bought more equity in April .. good sign? “Alta Equipment Group, Inc. owns and operates integrated equipment dealership platforms. It sells, rents, and provides parts and service support for several categories of equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment and other industrial and construction equipment through its branch network. The company was founded in 1984.” Possible Catalysts:New Sales OrdersDefinitive Agreement (and then Merger)Release of (Positive) Financial DataProprietary Advancements (R&D) Risks/Downside:Deal could fall through (definitive agreement not guaranteed or even possible SEC investigation/lawsuits)Financial data released might be poor or priced in Lower Risks:I couldn’t find many other institutions involved besides B Riley (maybe two others)Relatively low price action since IPO àLOI (institutions/sector analysts haven’t yet priced/awaiting progress?)“The JOBS Act, enacted in 2012, contains provisions that, among other things, relax certain reporting requirements for qualifying public companies” (keep seeing this in S1’s can someone confirm it is standard?)BRMG Shareholder value may or may not decrease with mergecombination Recent Media/Links:https://eosenergystorage.com/eos-energy-storage-supplies-energy-storage-to-microgrid-developments-for-electrifying-rural-communities-in-nigeria/ (new project 7/2020) https://www.prnewswire.com/news-releases/b-riley-principal-merger-corp-ii-and-eos-energy-storage-announce-letter-of-intent-for-business-combination-301083051.html (LOI) https://www.businesswire.com/news/home/20171025005889/en/PSEG-Installs-Commissions-1-MWh-Eos-Aurora http://www.prweb.com/releases/eos_energy_storage_to_deploy_its_latest_generation_battery_system_in_pala_california_energy_storage_yard/prweb17203153.htm (California Energy Commission Partnership) https://www.energy-storage.news/blogs/video-global-energy-storage-market-forecast-with-guidehouse-insights (Energy Storage Analyst Forecast) https://www.energy-storage.news/blogs/building-battery-storage-systems-to-meet-changing-market-requirements (Industry/Competition) https://www.businesswire.com/news/home/20130520006558/en/Eos-Energy-Storage-Raises-15-Million-Strategic ( Funding back in 2013) http://www.prweb.com/releases/eos_energy_storage_teams_with_motor_oil_and_ingeteam_to_bring_efficient_energy_storage_solutions_to_large_greek_refineries/prweb17125184.htm “Eos was recently (5/2020) awarded a contract to manufacture, design, and deliver a 1MW 4MWh behind the meter (BTM) Battery Energy Storage System (BESS) in Motor Oil’s Corinth Refinery in Athens, Greece and has partnered with Ingeteam to provide the full AC integrated system with their INGECON Bseries Inverter + Miniskid MV solution and INGECON EMS Plant Controller. This is Eos’ first project in Greece, expanding upon their European commercial presence.The project will enable Motor Oil to optimize their onsite generation without fear of flammability or thermal runaway due to Eos’ inherent and proven safety. Eos’ Energy Storage System will provide full 100% depth of discharge, flexible charge/discharge capabilities with no impact to degradation, minimal auxiliary power requirements, and a 15+ year life. The benefits to Motor Oil are financial savings in fuel and maintenance, and reduced energy costs during times of peak demand, all increasing the efficiency and resiliency of the refinery’s electrical grid system. “We consider Eos battery technology as the most competitive and attractive one compared to Li Ion batteries, capable of offering a lot of opportunities in large scale BESS in the future,” said Vassilis Viziryiannakis, Head of Electricity Business of Motor Oil Hellas. https://eosenergystorage.com/eos-energy-storage-further-strengthens-leadership-with-new-chief-financial-officer-chief-strategic-alliances-office - new board members 7/21 SEC Files Here BMRG really looking like a great play (long steady growth) which will benefit from ESG/decarbonization and already has state connections |
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