Cerberus Capital Management Files SC 13D/A for Eos Energy

TL;DR

Cerberus Capital Management filed an update on their Eos Energy stake. Watch this space.

AI Summary

Cerberus Capital Management II, L.P. has filed an amendment (No. 2) to its Schedule 13D for Eos Energy Enterprises, Inc. on September 3, 2024. This filing indicates a change in beneficial ownership, though specific details on the percentage change or new holdings are not provided in this excerpt. The filing relates to Eos Energy Enterprises, Inc., a company in the miscellaneous electrical machinery sector.

Why It Matters

This filing signals a potential shift in control or significant investment activity by Cerberus Capital Management in Eos Energy Enterprises, which could impact the company's stock price and strategic direction.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede significant corporate actions or changes in ownership, which can introduce volatility.

Key Players & Entities

• Cerberus Capital Management II, L.P. (company) — Filing entity
• Eos Energy Enterprises, Inc. (company) — Subject company
• Alexander D. Benjamin (person) — Contact person at Cerberus

FAQ

Key Financial Figures

• $0.0001 — ame of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securitie
• $210.5 million — acility in an aggregate amount of up to $210.5 million (the "Delayed Draw Term Loan") to be ma
• $75 m — to be made in up to four installments ($75 million, which was funded on June 21, 202
• $105 m — acility in an aggregate amount of up to $105 million, to be made available at the Lend
• $30 million — ilestone required to draw an additional $30 million on the Delayed Draw Term Loan (the "Fir
• $9,555,515.30 — ed Stock has an original issue price of $9,555,515.30 (the "A-2 Original Issue Price") and a

Filing Documents

• form_sc13da-eos.htm (SC 13D/A) — 112KB
• 0001011438-24-000467.txt ( ) — 113KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration

is hereby amended and supplemented by the addition of the following

Item 3 is hereby amended and supplemented by the addition of the following: The information in Item 4 is incorporated herein by reference.

Purpose of Transaction

Item 4. Purpose of Transaction

is hereby amended and supplemented by the addition of the following

Item 4 is hereby amended and supplemented by the addition of the following: As previously disclosed, on June 21, 2024, the Issuer entered into a credit and guaranty agreement (the "Credit Agreement") by and among the Issuer, as borrower, the guarantors party thereto, the various lenders party thereto (the "Lenders"), and CCM Denali Debt Holdings, LP., as administrative agent and collateral agent, pursuant to which the Lenders have agreed to provide a secured multi-draw term loan facility in an aggregate amount of up to $210.5 million (the "Delayed Draw Term Loan") to be made in up to four installments ($75 million, which was funded on June 21, 2024, and the remainder upon three additional draws), and a revolving credit facility in an aggregate amount of up to $105 million, to be made available at the Lenders' sole discretion and only if the Delayed Draw Term Loan is fully funded, on terms and subject to conditions set forth in the Credit Agreement. Pursuant to the previously disclosed Securities Purchase Agreement, upon each draw under the Delayed Draw Term Loan, the Issuer will issue and sell to CCM Denali Equity in private placement transactions Warrants and/or Preferred Stock in amounts representing predetermined, fully diluted, percentages (an "Applicable Percentage") of Common Stock. On August 28, 2024, the Issuer and Cerberus Capital Management II mutually confirmed that the Issuer satisfied all four applicable performance objectives comprising the first milestone required to draw an additional $30 million on the Delayed Draw Term Loan (the "First Milestone") ahead of the August 31, 2024, milestone measurement date, related to the Issuer's automated production line, materials costs, Z3 technology performance and backlog/cash conversion, pursuant to the terms of the Credit Agreement. On August 29, 2024, the Issuer submitted a borrowing request under the Credit Agreement, and the Lenders funded the full amount of the scheduled $30 million draw under the Delaye

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer The information in Item 4 is incorporated herein by reference. (a) and (b) Items 7 through 11 and 13 of each of the cover pages of this Schedule 13D are incorporated herein by reference. Such information is based on 216,879,703 shares of Common Stock outstanding as of August 29, 2024, based on information received from the Issuer. The securities of the Issuer reported herein are directly held and beneficially owned by CCM Denali Equity. CCM Denali Equity GP, as the general partner of CCM Denali Equity, may be deemed to beneficially own the securities of the Issuer held by CCM Denali Equity. Cerberus Capital Management II, as the sole member of CCM Denali Equity GP, may be deemed to beneficially own the securities of the Issuer held by CCM Denali Equity. (c) The information in Items 3 and 4 is incorporated herein by reference. Except as disclosed in this Schedule 13D, as amended, there have been no transactions by the Reporting Persons or the Scheduled Persons in the securities of the Issuer during the past sixty days. (d) The disclosure regarding the relationship between the Reporting Persons in Item 2(c) of this Schedule 13D is incorporated herein by reference. (e) Not applicable.

Contracts, Arrangements, Understandings or Relationships with

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer The disclosure in Item 4 is incorporated herein by reference. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 3, 2024 CERBERUS CAPITAL MANAGEMENT II, L.P. By: /s/ Alexander D. Benjamin Name: Alexander D. Benjamin Title: Senior Managing Director and Chief Legal Officer CCM DENALI EQUITY HOLDINGS, LP By: CCM Denali Equity Holdings GP, LLC, its general partner By: /s/ Alexander D. Benjamin Name: Alexander D. Benjamin Title: Manager CCM DENALI EQUITY HOLDINGS GP, LLC By: /s/ Alexander D. Benjamin Name: Alexander D. Benjamin Title: Manager

View Full Filing

View this SC 13D/A filing on SEC EDGAR