Energy Vault proposes $125M convertible note offering due 2031

Energy Vault Holdings, Inc.

Offers $125M convertible senior notes due 2031 in private placement; underwriters can purchase additional $25M.
Notes mature March 1, 2031; interest paid semiannually; conversion settles in cash, stock, or combination.
Net proceeds to fund capped call costs, redeem $35-45M of existing convertible debentures, and for general corporate.
Capped call transactions expected to reduce dilution upon conversion of notes.

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