Cerberus Capital Management Files 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 amended its Schedule 13D filing regarding Eos Energy Enterprises, Inc. on September 12, 2024. The filing indicates a change in beneficial ownership, though specific new holdings or dollar amounts are not detailed in this excerpt. Cerberus Capital Management II, L.P. is a significant entity involved in the filing.

Why It Matters

This amendment signals a potential shift in control or influence over Eos Energy Enterprises, Inc. by a major investment firm, which could impact the company's strategic direction and stock performance.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate strategic moves by large investors, potentially leading to 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
• $841,999.99 — ed Stock has an original issue price of $841,999.99 (the "B-1 Original Issue Price"). Under
• $2,322,000 — ed Stock has an original issue price of $2,322,000 (the "B-2 Original Issue Price"). The s

Filing Documents

• form_sc13da-eos.htm (SC 13D/A) — 113KB
• 0001011438-24-000471.txt ( ) — 115KB

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, pursuant to the terms of the Credit Agreement and Securities Purchase Agreement, the Issuer issued (i) 59 shares of Series A-1 Non-Voting Non-Convertible Preferred Stock (the "Series A-1 Preferred Stock"), (ii) a warrant to purchase 43,276,194 shares of Common Stock (the "Warrant"), and (iii) 7 shares of Series A-2 Non-Voting Non-Convertible Preferred Stock (the "Series A-2 Preferred Stock") to Cerberus Denali Equity. If stockholder approval of the issuance to Cerberus Denali Equity of more than 19.99% of the Issuer's outstanding Common Stock as of June 21, 2024 ("Stockholder Approval") were obtained, the shares of Series A-1 Preferred Stock issued prior to Stockholder Approval would become convertible into a number of shares of Series B-1 Non-Voting Convertible Preferred Stock ("Series "B-1 Preferred Stock") that would be convertible into an equal number of shares of Common Stock as then represented by the liquidation value of the Series A-1 Preferred Stock; the shares of Series A-2 Preferred Stock issued prior to Stockholder Approval would become convertible into a number of shares of Series B-2 Non-Voting Convertible Preferred Stock ("Series B-2 Preferred Stock", and together with the Series B-1 Preferred Stock, the "Series B Preferred Stock") that would be convertible into an equal number of shares of Common Stock as then represented by the liquidation value of the Series A-2 Preferred Stock; and the Warrant Conversion Cap would increase to 49.9%. On September 10, 2024, the Issuer held a Special Meeting of Stockholders and obtained the Stockholder Approval. On September 12, 2024, (i) the 59 shares of Series A-1 Preferred Stock held by CCM Denali Equity converted into 31.940063 shares of Series B-1 Preferred Stock, which shares of Series B-1 Preferred Stock were convertible into an aggregate of 31,940,063 shares of Common Stock, and (ii) the 7 shares of Series A

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 Respect to Securities of the Issuer

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 12, 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