On June 21, 2024, Eos Energy Enterprises, Inc. (Eos Energy), a Delaware-incorporated energy storage solutions provider, entered into a significant financial agreement to bolster its growth and expansion plans. The company secured a strategic investment from Cerberus Capital Management LP, amounting to up to $315.5 million. This investment includes a $210.5 million secured multi-draw facility and a $105 million revolving credit facility, with the initial $75 million funded on the date of the report. The funding is contingent on Eos Energy meeting certain operational milestones and is structured to support the company's scale-up to meet the growing demand for long-duration energy storage. The agreement also led to the appointment of Nicholas Robinson from Cerberus to Eos Energy's Board of Directors...Show More

On June 21, 2024, Eos Energy Enterprises, Inc. (Eos Energy), a Delaware-incorporated energy storage solutions provider, entered into a significant financial agreement to bolster its growth and expansion plans. The company secured a strategic investment from Cerberus Capital Management LP, amounting to up to $315.5 million. This investment includes a $210.5 million secured multi-draw facility and a $105 million revolving credit facility, with the initial $75 million funded on the date of the report. The funding is contingent on Eos Energy meeting certain operational milestones and is structured to support the company's scale-up to meet the growing demand for long-duration energy storage. The agreement also led to the appointment of Nicholas Robinson from Cerberus to Eos Energy's Board of Directors. Concurrently, Eos Energy settled its existing debt under the Atlas Credit Agreement for $27 million, significantly improving its financial position. The company also issued securities, including 59 shares of Series A-1 Preferred Stock and a Warrant to purchase over 43 million shares of common stock, with provisions for future securities issuance based on the achievement of performance milestones. These financial moves are aimed at propelling Eos Energy's expansion and path to profitability in the rapidly growing energy storage market.