secwatch.observer — SEC 8-K summary
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Issuer:     Energy Vault Holdings, Inc. (NRGV)
CIK:        0001828536
Form:       8-K
Filed at:   2025-09-26T23:59:59+00:00
Accession:  0001828536-25-000181
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828536/000182853625000181/0001828536-25-000181-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828536/000182853625000181/nrgv-20250922.htm
  HTML page:      https://secwatch.observer/filing/0001828536-25-000181

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