Energy Vault closes $20M additional convertible debenture issuance to YA II PN

Energy Vault Holdings, Inc.

Issued $20M aggregate principal of senior unsecured convertible debentures at 97% of par.
Debentures carry 7% annual interest (18% on default) and mature March 22, 2027.
Conversion price fixed at $7.53/share (150% of Dec 12 VWAP); amortization installments start Jan 2026.
Proceeds to fund working capital, energy storage project development, and construction.
This is second tranche following $30M initial closing on Sep 22, 2025, for total $50M.

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 convertible notes of $20.0 million with YA II PN, Ltd. at 7% annual interest rate maturing March 22, 2027.

Instrument: convertible notes
Principal: $20.0 million
Counterparty: YA II PN, Ltd.
Rate: 7% annual interest rate
Maturity: March 22, 2027
Event: incurrence

Exact text from the filing

On December 16, 2025, the Company issued additional Debentures in the aggregate principal amount of $20.0 million to the Investor (the “Subsequent Closing”).

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Energy Vault Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001828536-25-000213

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