Financing ·
Eos Energy Enterprises entered into an Amended and Restated Limited Liability Company Agreement for Frontier Power USA…
EOSEEos Energy Enterprises, Inc.
Eos Energy Enterprises entered into an Amended and Restated Limited Liability Company Agreement for Frontier Power USA Parent, LLC with CCM Frontier JV Holdco and HBC MSF Capital Solutions Blocker II. Eos contributed $112,637,879 for 112,637,879 Class B Units, while CCM Frontier contributed $100 million for 100,000,000 Class A-2 Units and HBC contributed $50 million for 50,000,000 Class C Units. The company issued warrants to purchase up to 30,026,658 shares of common stock at an exercise price of $5.481 to CCM Frontier (20,017,772 warrants) and HBC (10,008,886 warrants). An exchange agreement allows HBC to convert up to 50,000,000 Class C Units into common stock at varying prices based on share value thresholds. The company also executed a Third Amendment to its Loan Guarantee Agreement with the U.S. Department of Energy to approve the Thorn Hill site and permit related investments. Eos Energy Enterprises operates in the energy storage industry.