Eos Energy entered into a binding amended and restated term sheet to form a joint venture with Cerberus Capital Management and Hudson Bay Capital Management. The plan envisions $100 million from Cerberus and $50 million from Hudson Bay in preferred units, with Eos funding its stake via a targeted $150 million rights offering. The arrangement includes warrants to Cerberus and Hudson Bay and an exchange right for Hudson Bay, subject to closing conditions including DOE consent and final definitive agreements. The JV aims to accelerate a frontier power development platform with structured governance and distribution waterfalls.
Agreement details:
- Agreement type: Amended and Restated Binding Term Sheet for Joint Venture Formation
- Counterparty: Cerberus Capital Management and Hudson Bay Capital Management
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: Until closing; JV ongoing thereafter
- Reason: Launch and fund frontier power development platform
Original SEC Filing:
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