Eos Energy secures amendments and waivers to enable common stock and convertible note offerings for debt refinancing

Eos Energy Enterprises, Inc.

Second Amendment to Credit Agreement allows Specified Refinancing Transaction (common stock/convertible notes) by July 26, 2025; requires $50M of proceeds to prepay obligations.
Upon refinancing, interest rate on Credit Agreement drops to 7%, financial covenant deferral to Q1 2027, and Cerberus equity kicker limited to 1% of diluted shares.
DOE consents to offerings and defers financial covenants; requires 24-month interest reserve in project account for convertible notes.
CCM Denali waives equity offering restrictions and preemptive rights solely for the two offerings closing by July 26, 2025; if closed, lock-up extends to June 2026.
Offerings include an underwritten public offering of common stock and a private offering of convertible senior notes due 2030.

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