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Eos Energy Announces It Successfully Meets Performance Milestones Allowing The Co To Access The Final $40.5M Of The Delayed Draw Term Loan Previously Agreed Upon Between Eos And Affiliate Of Cerberus Capital Management LP

Benzinga ·  Jan 27 13:59

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) ("Eos" or the "Company"), America's leading innovator in designing, manufacturing, and providing zinc-based long duration energy storage systems sourced and manufactured in the United States, today announced the successful achievement of the third set of performance milestones previously agreed upon between Eos and an affiliate of Cerberus Capital Management LP ("Cerberus") as part of Cerberus's strategic investment in the Company. Successfully meeting these performance milestones allowed the Company to access the final $40.5 million of the Delayed Draw Term Loan (DDTL), fueling ongoing operations, U.S. production expansion, and the creation of an American energy storage powerhouse.

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