Section 1.01 Entering into a Material Definitive Agreement.
Senior Secured Term Credit Agreement
As stated earlier, on
The information set forth in item 1.01 of the company’s current report on Form 8-K filed on
The foregoing is a summary description of certain terms of the Commitment Increase Agreement. For a complete description of all terms, please refer to the copy of the Commitment Increase Agreement which is filed herewith as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein. by reference.
Under the Sale Agreement, the Company will set the parameters for the sale of Placement Shares, including the number of Placement Shares to be issued, the period during which sales are requested, limits on the number of Placement Shares that can be sold during the same trading day and any minimum price below which sales cannot be made. Subject to the terms and conditions of the Sale Agreement, Cowen may sell the Placement Shares by methods deemed to be an “Offer to Market” as defined in Rule 415 enacted under the Securities Act of 1933 , as amended, including sales made through The Nasdaq Capital Market (“Nasdaq”), on any other existing trading market for common stock. In conducting such sales activities, Cowen will use its commercially reasonable efforts in accordance with its normal business and business practices and applicable state and federal laws, rules and regulations and Nasdaq rules. The Company will pay Cowen a commission equal to 3.0% of the gross proceeds from the sale of all Investment Shares sold through Cowen pursuant to the Sale Agreement, and has provided Cowen with indemnification rights and usual contributions. The Company will also reimburse Cowen for certain expenses incurred in connection with the sale agreement. The Sale Agreement will terminate upon the earlier of: (i) the sale of all Investment Shares subject to the Sale Agreement or (ii) the termination of the Sale Agreement in accordance with the terms and conditions set forth therein.
The Company is not obligated to sell, and Cowen is not obligated to buy or sell, any Placement Shares under the Sale Agreement. No assurance can be given that the Company will sell Investment Shares under the Sale Agreement, or, if so, as to the price or amount of Investment Shares it sells or the dates on which such sales will take place.
All shares to be offered and sold under the Agreement of Sale will be issued and sold pursuant to the Company’s registration statement on Form S-3 (File No. 333-263298), which has been filed with the
The foregoing is a summary description of certain terms of the Sales Agreement. For a complete description of all terms, please see the copy of the Sales Agreement filed herewith as Exhibit 10.2 to this Current Report on Form 8-K and incorporated herein by reference.
This current report on Form 8-K does not constitute an offer to sell or a solicitation of an offer to buy common stock, and there will be no sale of common stock in any state or jurisdiction in which a such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Item 2.03 Creation of a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in the section entitled “Senior Secured Term Credit Agreement” under Section 1.01 of this Current Report on Form 8-K relating to the Covenant Increase Agreement is incorporated herein by reference.
Section 7.01 Disclosure of FD Rules.
The information included in Item 7.01 (including Exhibit 99.1) is provided pursuant to Item 7.01 and is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”). ), or otherwise be subject to the responsibilities of this section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act or the Exchange Act, whether made before or after the date hereof and regardless of any language of general incorporation in this repository.
Section 8.01 Other Events.
A copy of the notice of
Item 9.01 Financial statement and supporting documents.
(d) Exhibits Exhibit Number Description of Document 5.1 Opinion of Davis Polk & Wardwell LLP 10.1 Commitment Increase Agreement, dated as of August 4 , 2022, by and among Eos Energy Enterprises, Inc., the guarantors party thereto, ACP Post Oak Credit I LLC, as administrative agent and lender, and certain other lenders party thereto 10.2 Sales Agreement, dated August 5, 2022, by and between Eos Energy Enterprises, Inc. and Cowen and Company, LLC 23.1 Consent of Davis Polk & Wardwell LLP (included in Exhibit 5.1) 99.1 Press release, dated August 5, 2022 (furnished pursuant to Item 7.01) 104 Cover page of this Current Report on Form 8-K formatted in Inline XBRL 3
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