EOSE - What's Going On With Eos Energy Stock? | Benzinga
Eos Energy Enterprises, Inc. (NASDAQ:EOSE) shares are trading higher Monday after the company announced a strategic investment of up to $315.5 million from an affiliate of Cerberus Capital Management LP.
The Details:
Eos Energy said both companies believe the investment will accelerate Eos’ operating capabilities and industry position. The investment by Cerberus is structured as a $210.5 million delayed draw term loan that is partially based upon achieving operational milestones, and a $105 million revolver that Eos may draw upon, if required, at Cerberus’ discretion.
“We are thrilled to partner with Cerberus at a pivotal moment in Eos’ history. This investment provides the critical funding needed to execute our profitability roadmap, while also providing our customers with the confidence that Eos can produce at scale,” said Eos CEO Joe Mastrangelo.
“Cerberus’ investment, combined with their deep operational and technical knowledge, enables us to expand our ...