Financing ·
Energy Vault Holdings, Inc. amended its Securities Purchase Agreement with YA II PN, Ltd. to increase the aggregate…
NRGVEnergy Vault Holdings, Inc.
Energy Vault Holdings, Inc. amended its Securities Purchase Agreement with YA II PN, Ltd. to increase the aggregate principal amount of senior secured convertible debentures to $150.0 million. The company issued an additional $38.0 million tranche on June 29, 2026, bringing the Tranche 1 total to $80.0 million with a 7.50% interest rate and a maturity date of July 1, 2027. This expansion follows a material increase in the company's commercial backlog from $1.3 billion as of March 31, 2026. Additionally, subsidiaries Calistoga Resiliency Center, LLC and Cross Trails Energy Storage Project, LLC entered into agreements to prepay senior notes and modify debt service coverage ratio requirements, respectively. Energy Vault Holdings, Inc. provides energy storage solutions and technology.