Energy Vault Holdings, Inc. (NRGV): debt financing — Energy Vault sells up to $9.45M future receivables for $6.75M net cash

Energy Vault Holdings, Inc.

Purchase price $7.5M; $0.75M fees deducted; net cash proceeds $6.75M.
Future receivables sold range: $7.63M (repay within 30d) to $9.45M (if not repaid within 60d).
After 60 days, weekly payments of $0.26M until $9.45M paid, based on 32.94% of future receivables.
Financing Arrangements made with Cedar Advance, Reliance Financial, and UFS West.
Contains customary covenants, representations, and default provisions.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Energy Vault Holdings, Inc. incurred debt of ranging from $7.63 million up to $9.45 million with Cedar Advance LLC, Reliance Financial FL LLC, and UFS West LLC maturing weekly until $9.45 million paid.

Principal: ranging from $7.63 million up to $9.45 million
Counterparty: Cedar Advance LLC, Reliance Financial FL LLC, and UFS West LLC
Maturity: weekly until $9.45 million paid
Event: incurrence

Exact text from the filing

(the “Company”), together with Energy Vault, Inc., its wholly-owned subsidiary (collectively with the Company, the “Sellers”), entered into Agreements of Sale of Future Receipts (collectively, the “Financing Arrangements”) with Cedar Advance LLC, Reliance Financial FL LLC, and UFS West LLC (collectively, the “Buyers”).

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Energy Vault Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001828536-25-000151

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