secwatch.observer — SEC 8-K summary
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Issuer:     Eos Energy Enterprises, Inc. (EOSE)
CIK:        0001805077
Form:       8-K
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0001213900-24-094161
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 2.03, 3.02, 3.03, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eos Energy achieves second milestone, draws $65M from Cerberus credit facility
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- Achieved all four second performance milestones on Oct 31, 2024, enabling $65M draw from $210.5M Delayed Draw Term Loan.
- Issued 38.259864 shares of Series B-3 Preferred Stock to Cerberus, convertible into 38,259,864 common shares.
- Total convertible/exercisable shares issued to Cerberus now 142,282,584, representing 30.9% fully diluted ownership.
- If all draws funded and milestones met, Cerberus could own up to 33.0% (or 41.0% if milestones missed) fully diluted.
- Series B-3 Preferred Stock has redemption after Nov 2029, anti-dilution, preemptive rights, and board appointment rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805077/000121390024094161/0001213900-24-094161-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805077/000121390024094161/ea0219757-8k_eosenergy.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-094161

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer