Eos Energy forms JV with Cerberus and HBC, receives $150M in contributions, issues warrants

Eos Energy Enterprises, Inc.

Eos contributed $112.6M to JV Frontier Power USA Parent for 112.6M Class B units; Cerberus contributed $100M and HBC $50M.
Cerberus received 20,017,772 warrants and HBC 10,008,886 warrants, each exercisable at $5.481 per share for 10 years.
HBC gets exchange right to swap up to 50M Class C units for up to 9.12M Eos shares at prices from $5.481 to $20 depending on timing.
Third Amendment to DOE loan guarantee permits Thorn Hill site and JV investments; DOE loan terms amended.
Registration rights agreements require Eos to file resale registration statement within 30 days for warrants and exchange shares.

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