secwatch.observer — SEC 8-K summary
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Issuer:     Eos Energy Enterprises, Inc. (EOSE)
CIK:        0001805077
Form:       8-K
Filed at:   2024-09-12T23:59:59+00:00
Accession:  0001213900-24-078188
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 3.02, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805077/000121390024078188/0001213900-24-078188-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805077/000121390024078188/ea0214324-8k_eosenergy.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-078188

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