secwatch.observer — SEC 8-K summary
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Issuer:     Zeo Energy Corp. (ZEO)
CIK:        0001865506
Form:       8-K
Filed at:   2023-10-17T23:59:59+00:00
Accession:  0001193125-23-257782
Event type: regulatory
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ESGEN Acquisition receives Nasdaq deficiency notice for round lot holders; expands sponsor note to $2.5M
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- Nasdaq notified ESGEN on Oct 16, 2023, of non-compliance with round lot holder requirement under Listing Rule 5450(a)(2).
- Company has 45 days to submit a compliance plan and up to 180 days (by Apr 13, 2024) to regain compliance.
- ESGEN amended sponsor promissory note to increase borrowing capacity from $1.5M to $2.5M for working capital.
- Note bears no interest, is repayable upon business combination, and recourse is limited to funds outside trust account.
- Failure to regain compliance could result in delisting of Class A ordinary shares from Nasdaq.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1865506/000119312523257782/0001193125-23-257782-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1865506/000119312523257782/d550266d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-257782

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