Eos Energy Enterprises (EOSE) has shared an announcement.
Eos Energy Enterprises, Inc. has secured a sizable financial package, including a $210.5 million multi-draw delayed term loan and a $105 million revolving credit facility, backed by a consortium of its subsidiaries as guarantors. The funding, subject to achieving certain milestones, comes with an initial $75 million draw and the possibility of additional funding through future draws. The company’s obligations are secured by a first-priority lien on all assets and involve issuing warrants or preferred stock upon draws. Interest rates on the borrowings are set at 15% per annum, with potential increases linked to specific conditions. The financial arrangement also encompasses detailed covenants and conditions, including EBITDA and revenue metrics, as well as provisions for default and the early termination of the facilities.
For a thorough assessment of EOSE stock, go to TipRanks’ Stock Analysis page.
