Eos Energy converts Series A preferred to convertible stock; holders approve 19.99%+ issuance

Eos Energy Enterprises, Inc.

On Sept 12, 2024, 59 Series A-1 shares became 31.9M Series B-1 shares; 7 Series A-2 became 28.8M Series B-2 shares, each convertible 1:1M into common.
Series B-1 original issue price $842,000/share; Series B-2 original issue price $2,322,000/share; both subject to anti-dilution adjustments.
Stockholders on Sept 10, 2024 voted 117.2M for, 2.0M against to approve issuance of >19.99% of common stock under the credit/purchase agreements with Cerberus.
New Series B preferred grant board appointment rights at 10%, 15%, 30%, 40% ownership thresholds and preemptive rights on future equity offerings.
Conversion of existing preferred relied on Section 3(a)(9) exemption; no registration under Securities Act.

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