secwatch.observer — SEC 8-K summary
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Issuer:     Energy Vault Holdings, Inc. (NRGV)
CIK:        0001828536
Form:       8-K
Filed at:   2025-10-14T23:59:59+00:00
Accession:  0001828536-25-000184
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Energy Vault closes $300M preferred equity from OIC, launches Asset Vault platform
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- OIC commits up to $300M in Series A Preferred Units of Asset Vault; initial $35M cash contribution due by Oct 24, 2025.
- Energy Vault contributes four project entities (Calistoga, Cross Trails, Stoney Creek, and a future BESS) to Asset Vault.
- Asset Vault portfolio totals 3GW/12+GWh; expects >$100M recurring annual EBITDA within 3-4 years.
- Warrants issued: 5.6M warrants initially, with additional tranches up to $300M; exercise price at 1.25x 5-day VWAP.
- Deployment of +1.5GW pipeline across U.S., Australia, Europe; two late-stage projects expected to draw ~$200M over next 6 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828536/000182853625000184/0001828536-25-000184-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828536/000182853625000184/nrgv-20251009.htm
  HTML page:      https://secwatch.observer/filing/0001828536-25-000184

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