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DEFA14A: Others

SEC announcement ·  Jun 24 17:26
Summary by Moomoo AI
Eos Energy Enterprises, Inc. (Eos) has announced a strategic investment of up to $315.5 million from Cerberus Capital Management LP, aimed at accelerating the company's growth and meeting the rising demand for battery storage solutions. The investment is expected to enhance Eos' manufacturing capacity, supply chain efficiency, and market position. Eos' CEO, Joe Mastrangelo, emphasized the investment's role in executing the company's profitability roadmap and providing customer confidence. The investment includes a $210 million senior secured delayed draw term loan and a $105 million discretionary revolving facility from Cerberus, with operational milestones aligned with Eos' strategic outlook. The initial funding of $75 million has been received, granting Cerberus an economic interest of approximately 19.9% in Eos' common stock. The transaction also involved...Show More
Eos Energy Enterprises, Inc. (Eos) has announced a strategic investment of up to $315.5 million from Cerberus Capital Management LP, aimed at accelerating the company's growth and meeting the rising demand for battery storage solutions. The investment is expected to enhance Eos' manufacturing capacity, supply chain efficiency, and market position. Eos' CEO, Joe Mastrangelo, emphasized the investment's role in executing the company's profitability roadmap and providing customer confidence. The investment includes a $210 million senior secured delayed draw term loan and a $105 million discretionary revolving facility from Cerberus, with operational milestones aligned with Eos' strategic outlook. The initial funding of $75 million has been received, granting Cerberus an economic interest of approximately 19.9% in Eos' common stock. The transaction also involved the termination and refinancing of Eos' existing $100 million loan with Atlas, with favorable terms for Eos. The company has also communicated its intention to file a preliminary proxy statement and a definitive proxy statement with the SEC, seeking stockholder approvals related to the exercisability of warrants and the convertibility of preferred stock issued in the transaction. Eos and Cerberus are deemed participants in the solicitation of proxies for the requisite stockholder approvals. The investment is not an offer of securities and is subject to regulatory approvals and customary closing conditions.

This announcement is a separate document:

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