Eos Energy jumps after achieving milestones, allowing loan access
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Contributor since / Followers
Contributor since / Followers
2 months ago
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Eos Energy Enterprises (NASDAQ:EOSE) +9.3% pre-market Friday after saying it achieved all four of the second performance milestones that were part of Cerberus Capital Management’s investment in the company.
Eos Energy (EOSE) said achieving the performance milestones will enable it to draw an additional $65M to fund ongoing operations and production expansion.
A remaining $40.5M tranche may be drawn following a January 31, 2025, testing date upon the achievement of further applicable performance milestones.