On June 21, 2024, Eos Energy Enterprises, Inc., a Delaware corporation, entered into a significant financial arrangement with Cerberus Capital Management II, L.P. and its associated entities, CCM Denali Equity Holdings, LP, and CCM Denali Equity Holdings GP, LLC. The transaction involved a credit and guaranty agreement providing Eos Energy with a $210.5 million secured multi-draw facility and a $105 million revolving credit facility, subject to certain conditions and milestones. Concurrently, Eos Energy agreed to a Securities Purchase Agreement with CCM Denali Equity, which included the issuance of a warrant for 43,276,194 shares of common stock and the sale of Series A-1 Preferred Stock. The agreement stipulates that Eos Energy must seek stockholder approval within 90 days to convert the Series A-1 Preferred Stock...Show More

On June 21, 2024, Eos Energy Enterprises, Inc., a Delaware corporation, entered into a significant financial arrangement with Cerberus Capital Management II, L.P. and its associated entities, CCM Denali Equity Holdings, LP, and CCM Denali Equity Holdings GP, LLC. The transaction involved a credit and guaranty agreement providing Eos Energy with a $210.5 million secured multi-draw facility and a $105 million revolving credit facility, subject to certain conditions and milestones. Concurrently, Eos Energy agreed to a Securities Purchase Agreement with CCM Denali Equity, which included the issuance of a warrant for 43,276,194 shares of common stock and the sale of Series A-1 Preferred Stock. The agreement stipulates that Eos Energy must seek stockholder approval within 90 days to convert the Series A-1 Preferred Stock into Series B Preferred Stock, which would be convertible into common stock. The transaction also resulted in the appointment of Nicholas Robinson, an affiliate of the Reporting Persons, to the Eos Energy Board of Directors. The Reporting Persons may engage in discussions with Eos Energy's management and board to explore ways to enhance stockholder value and may consider future actions regarding their investment based on various factors.