Eos Energy Enterprises, Inc. (EOSE) (“Eos”) announced it has borrowed an additional $9.6 million pursuant to the previously announced senior secured term loan facility with Atlas Credit Partners. The additional borrowing increases the total loan amount to $94.7 million and is subject to the same terms and conditions as the $85 million loan announced earlier this week.
“This facility continues to provide the flexibility to fast-track our manufacturing capacity expansion to accelerate the shift to clean energy and to deliver against our $460 million orders backlog,” said Randall B. Gonzales, Chief Financial Officer of Eos.
After closing costs and other expenses, the funding will provide additional capital for the Company’s continued manufacturing capacity expansion, development of next generation energy storage systems and software, and for general corporate purposes.
