Energy Vault secures $50M convertible debenture facility for working capital and project growth

Energy Vault Holdings, Inc.

Initial $30M tranche funded at closing; up to $50M total in senior unsecured convertible debentures.
Debentures carry 7% annual interest (18% default), 18-month maturity, conversion at $4.50/share (150% of VWAP).
Proceeds to fund general working capital, project development, and energy storage growth.
Company also has $300M preferred equity investment pending for Asset Vault subsidiary.
Investor cannot short; conversion capped at 19.99% of outstanding common unless stockholder approval.

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