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Wally Fairway

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15 minutes ago, PhillyD said:

This part of the tweet was cut off from the embed and I can confirm the accuracy.

"It has had a tendency to not hold gains so traders should take advantage of strength when given spikes imho."

traders or traitors?

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23 minutes ago, PhillyD said:

This part of the tweet was cut off from the embed and I can confirm the accuracy.

"It has had a tendency to not hold gains so traders should take advantage of strength when given spikes imho."

yeah, this is trending in good direction, but if it has a day soon where it decides to dip down around $5.50 I'm going to be persuaded into doubling up

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8 hours ago, MonkeyDoughnut said:

yeah, this is trending in good direction, but if it has a day soon where it decides to dip down around $5.50 I'm going to be persuaded into doubling up

Yeah, right now its a 4.5B company with trivial revenue. I think the stock will still be pretty volatile until they have a couple of quarterly reports showing adoption of Anktiva and validating whatever revenue projections people have been betting on.  It wouldnt shock me to see you get a chance at $5.50 shortly, but I doubt you'll sniff that price next year. 

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Zinc battery firm Eos agrees US$315 million facility with Cerberus Capital, retires existing senior loan
 
US zinc hybrid cathode battery storage manufacturer Eos Energy Enterprises has agreed to a financing package with private equity firm Cerberus, comprised of separate loan and revolver facilities totaling US$315 million.

The financing from an affiliate of Cerberus Capital Management comprises a US$210.5 million delayed draw term loan partially dependent on achieving operational milestones, and a US$105 million revolver that Eos can draw upon at Cerberus’ discretion. 

Eos said the funding will support its plan to scale operations and execute on its path to profitability, with losses narrowing in recent quarters. It manufactures a proprietary zinc-based battery which it sells to system integrators for projects with up to 12 hours of required discharge duration. 

The company will use the proceeds to retire its existing $100 million senior secured term loan on favourable terms, which it said will strengthen its balance sheet. It said it has reached an agreement to extinguish that debt for US$27 million, of which US$20 million has been paid with the remaining US$7 million payable over the next 12 months. 

Eos CFO Nathan Kroeker said: “The strategic investment announced today, combined with Eos’ highly efficient manufacturing capacity model, supports our capital needs as we execute on Project AMAZE. We look forward to working with Cerberus and their strong network to continue driving down product costs, improving performance of our storage systems, and developing financing alternatives for our customers

EOSE +.20 to $1.06.

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Whats another 50% of the company, lulz

Quote

As part of the strategic investment, assuming the delayed draw term loan is fully funded and depending on the Company’s ability to achieve the operational milestones, Cerberus will receive penny warrants and non-voting convertible preferred stock equivalent to 33% with the potential to reach 49%, depending on the achievement of operational milestones, of the outstanding equity of the Company, on a fully diluted basis. Initial funding of $75 million in gross proceeds was received at closing on June 21, 2024, and Cerberus was issued 43.3 million penny warrants and shares of non-voting redeemable non-convertible preferred stock with a liquidation preference equivalent to 31.9 million shares of common stock in connection with this initial funding.

 

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