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Zeo Energy Corp.
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Tables in SEC filings
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Name of Selling Holders | Securities to be Sold in This Offering | Securities Beneficially Owned After This Offering(12) | ||||||||
Shares of Class A Common Stock | % | Shares of Class A Common Stock | % | |||||||
WADE HAMPTON PARTNERS LP | 44,874 | * | 0 | 0 | % | |||||
WISE FAMILY HOLDINGS LP | 62,820 | * | 0 | 0 | % | |||||
ESGEN LLC(3) | 5,095,866 | 12.7 | % | 0 | 0 | % | ||||
Southern Crown Holdings, LLC(4) | 5,900,478 | 14.7 | % | 0 | 0 | % | ||||
LAMADD LLC(5) | 5,900,478 | 14.7 | % | 0 | 0 | % | ||||
JKae Holdings, LLC(6) | 5,515,664 | 13.7 | % | 0 | 0 | % | ||||
Clarke Capital, LLC(7) | 5,515,664 | 13.7 | % | 0 | 0 | % | ||||
LCB Trust(8) | 2,308,883 | 5.7 | % | 0 | 0 | % | ||||
Live Your Label, LLC(9) | 218,653 | * | 0 | 0 | % | |||||
Triple E Companies USA LLC(10) | 218,653 | * | 0 | 0 | % | |||||
Sun Managers, LLC(11) | 8,651,527 | 21.5 | % | 0 | 0 | % | ||||
PIPER SANDLER & CO. | 50,000 | * | 0 | 0 | % |
For the three months ended March 31, | ||||||||
2024 | 2023 | |||||||
Solar Systems Installations, gross | $ | 26,050,578 | $ | 23,372,617 | ||||
Financing Fees | (7,937,577) | (6,250,528) | ||||||
Solar Systems Installations, net | 18,113,001 | 17,122,089 | ||||||
Roofing Installations | 1,375,189 | 1,609,400 | ||||||
Total net revenues | $ | 19,488,190 | $ | 18,731,489 |
Redeemable noncontrolling interest | Additional Paid in Capital | Retained Earnings (Accumulated Deficit) | Total Stockholders’ Equity | ||||||||||||||||||||||||||||||||||||
Convertible Preferred units | Class B Units | Common Units | Class V Common Stock | Class A Common Stock | |||||||||||||||||||||||||||||||||||
Shares | Amount | Units | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||||
Balance, December 31, 2023 | — | $ | — | $ | — | 1,000,000 | $ | 31,155,864 | — | $ | — | — | $ | — | $ | — | $ | 1,177,024 | $ | 32,332,888 | |||||||||||||||||||
Retroactive application of Business Combination (Note 3) | — | — | — | (1,000,000) | (31,155,864) | 33,730,000 | 3,373 | — | — | 31,152,491 | — | — | |||||||||||||||||||||||||||
Balance, December 31, 2023 | — | — | — | — | — | 33,730,000 | 3,373 | — | — | 31,152,491 | 1,177,024 | 32,332,888 | |||||||||||||||||||||||||||
Stockholder distributions | — | — | — | — | — | — | — | — | — | — | (90,000) | (90,000) | |||||||||||||||||||||||||||
Net loss prior to the Business Combination | — | — | — | — | — | — | — | (759,936) | (759,936) | ||||||||||||||||||||||||||||||
Effects of Business Combination | |||||||||||||||||||||||||||||||||||||||
Issuance of Class A Shares to third party advisors | — | — | — | — | — | — | — | 553,207 | 55 | 2,765,980 | — | 2,766,035 | |||||||||||||||||||||||||||
Issuance of Class A Shares to backstop investor | — | — | — | — | — | — | — | 225,174 | 23 | 1,569,440 | — | 1,569,463 | |||||||||||||||||||||||||||
Reverse Recapitalization (Note 3) | 1,500,000 | 6,855,076 | — | — | — | 1,500,000 | 150 | 4,248,583 | 425 | (1,678,167) | — | (1,677,592) | |||||||||||||||||||||||||||
Transaction Costs | (2,317,632) | (2,317,632) | |||||||||||||||||||||||||||||||||||||
Establishment of redeemable noncontrolling interest | — | — | 27,399,463 | — | — | — | — | — | — | (27,399,463) | — | (27,399,463) | |||||||||||||||||||||||||||
Activities subsequent to business combination | |||||||||||||||||||||||||||||||||||||||
Subsequent measurement of redeemable noncontrolling interest | — | — | 172,836,361 | — | — | — | — | — | — | (4,092,649) | (168,743,712) | (172,836,361) | |||||||||||||||||||||||||||
Net income | — | 8,224,091 | (7,974,824) | — | — | — | — | — | — | — | (1,188,531) | (1,188,531) | |||||||||||||||||||||||||||
Balance, March 31, 2024 | 1,500,000 | $ | 15,079,167 | $ | 192,261,000 | $ | — | $ | — | 35,230,000 | $ | 3,523 | 5,026,964 | $ | 503 | $ | — | $ | (169,605,155) | $ | (169,601,129) |
For the three months ended March 31, | ||||||||
2024 | 2023 | |||||||
Contract liabilities, beginning of the period | $ | 5,023,418 | $ | 1,149,047 | ||||
Revenue recognized from amounts included in contract liabilities at the beginning of the period | (5,023,418) | (1,149,047) | ||||||
Cash received prior to completion of performance obligation | 585,809 | 1,134,258 | ||||||
Contract liabilities, as of the end of the period | $ | 585,809 | $ | 1,134,258 |
Cash-trust and cash, net of redemptions | $ | 2,714,091 | ||
Less: transaction costs, promissory note and professional fees, paid | (7,350,088) | |||
Proceeds from pipe subscription | 15,000,000 | |||
Net proceeds from the Business Combination | 10,364,003 | |||
Less: liabilities assumed | (12,041,595) | |||
Reverse recapitalization, net | $ | (1,677,592) |