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Eos Energy Enterprises Clarifies Details Regarding 8-K Filing
EDISON, N.J., April 19, 2022 (GLOBE NEWSWIRE) -- On July 7, 2021, Eos Energy Enterprises, Inc. (the “Company”) announced that Koch Strategic Platforms, a
About this update from Eos Energy Enterprises, Inc.
[{"type":"text","content":"EDISON, N.J., April 19, 2022 (GLOBE NEWSWIRE) -- On July 7, 2021, Eos Energy Enterprises, Inc. (the “Company”) announced that Koch Strategic Platforms, a subsidiary of Koch Investments Group, made a $100 million investment in the Company’s 5%/6% Convertible Senior PIK Toggle Notes due 2026 (the “Notes”) to support the Company’s strategic growth initiatives. In connection with that investment, the Company entered into an investment agreement (the “Investment Agreement”) with Spring Creek Capital, LLC, a wholly-owned, indirect subsidiary of Koch Industries, Inc. (“Koch”). The Investment Agreement contemplated an ability to re-issue the Notes in the future pursuant to an indenture to facilitate transferability. Last week, as permitted by the Investment Agreement, the original Notes were cancelled and the Company re-issued the Notes to Spring Creek Capital, LLC, in an aggregate principal amount of $102,900,000 (which includes $2,900,000 of interest previously paid in kind), pursuant to an indenture with Wilmington Trust, National Association, as trustee, dated as of April 7, 2022. The terms of the Notes remain the same as under the Investment Agreement, in the Company’s Current Report on Form 8-K filed on July 7, 2021, which can be found here: https://investors.eose.com/node/7776/html About Eos Eos Energy Enterprises, Inc. is accelerating the shift to clean energy with positively ingenious solutions that transform how the world stores power. Our breakthrough Znyth™ aqueous zinc battery was designed to overcome the limitations of conventional lithium-ion technology. Safe, scalable, efficient, sustainable — and manufactured in the U.S. — it's the core of our innovative systems that today provide utility, industrial, and commercial customers with a proven, reliable energy storage alternative. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com. Forward-Looking StatementsThis press release includes certain statements that may constitute \"forward-looking statements\" within the meaning of the \"safe harbor\" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any unde...