secwatch.observer — SEC 8-K summary
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Issuer:     Energy Vault Holdings, Inc. (NRGV)
CIK:        0001828536
Form:       8-K
Filed at:   2025-07-28T23:59:59+00:00
Accession:  0001828536-25-000093
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Energy Vault closes $18M project financing for 57 MW/114 MWh Cross Trails BESS in Texas
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- $17.8M senior secured term loan facility with Wilmington Trust; matures July 2032 at 5-6% interest.
- Cross Trails BESS reached commercial operation June 2025; 10-year offtake agreement with Gridmatic.
- Expects $12M+ additional from ITC sale agreement this quarter; levered IRR ~15%.
- Second project financing close following $28M Calistoga deal; part of 'Own & Operate' strategy.
- Facility secured by substantially all assets of project subsidiary; includes mandatory prepayment provisions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828536/000182853625000093/0001828536-25-000093-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828536/000182853625000093/nrgv-20250723.htm
  HTML page:      https://secwatch.observer/filing/0001828536-25-000093

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