secwatch.observer — SEC 8-K summary
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Issuer:     Eos Energy Enterprises, Inc. (EOSE)
CIK:        0001805077
Form:       8-K
Filed at:   2023-04-11T23:59:59+00:00
Accession:  0001213900-23-028698
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eos Energy issues $15M convertible note to Yorkville, amends SEPA Exchange Cap
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- Issued $15M convertible promissory note to YA II PN, LTD with 2% OID, 5% interest (15% on default), maturity Aug 31, 2023.
- Conversion price is lower of $2.8093 or 90% of 7-day VWAP, floor $0.53; note may be offset by SEPA advances.
- Amendment No. 5 to SEPA removes Exchange Cap (19.99% of shares) for sales ≥$2.47/share or upon shareholder approval.
- Proceeds for working capital and general corporate purposes; note issued under Section 4(a)(2) exemption.
- Company represents shareholder approval not required for up to 1.35M shares issuable upon conversion or Investor Notices.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805077/000121390023028698/0001213900-23-028698-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805077/000121390023028698/ea176772-8k_eosenergy.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-028698

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