Eos Energy Enterprises, Inc. (Eos) has filed a preliminary proxy statement with the SEC on July 29, 2024, and is preparing to file a definitive proxy statement to seek stockholder approvals related to the exercisability of warrants and the convertibility of preferred stock issued in a financing transaction on June 21, 2024. The company has urged investors and security holders to read the proxy statements, which contain important information about the company and the financing. Eos and Cerberus, along with certain directors, executive officers, and employees, may be deemed participants in the solicitation of proxies in connection with the financing. The company has highlighted forward-looking statements regarding its path to profitability and strategic outlook, including the use of proceeds from a delayed draw...Show More

Eos Energy Enterprises, Inc. (Eos) has filed a preliminary proxy statement with the SEC on July 29, 2024, and is preparing to file a definitive proxy statement to seek stockholder approvals related to the exercisability of warrants and the convertibility of preferred stock issued in a financing transaction on June 21, 2024. The company has urged investors and security holders to read the proxy statements, which contain important information about the company and the financing. Eos and Cerberus, along with certain directors, executive officers, and employees, may be deemed participants in the solicitation of proxies in connection with the financing. The company has highlighted forward-looking statements regarding its path to profitability and strategic outlook, including the use of proceeds from a delayed draw term loan and the anticipated benefits of a strategic investment from Cerberus Capital Management. During the company's earnings call on August 7, 2024, CEO Joseph R. Mastrangelo discussed the impact of the Cerberus investment, including the retirement of existing debt and the focus on operational excellence and growth. CFO Nathan G. Kroeker provided details on the investment structure and future funding milestones. The company is working towards achieving operational and financial milestones to draw additional funds from the Cerberus loan and is also pursuing a loan from the DOE to further accelerate capacity expansion.