UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 30, 2022
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
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Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On September 30, 2022, HI-POWER, LLC (“HI-POWER”), a wholly owned subsidiary of Eos Energy Enterprises Inc. (the "Company"), borrowed an additional $4.2 million by entering into an equipment financing schedule with Trinity Capital Inc. ("Trinity") pursuant to its previously disclosed Equipment Financing Agreement (the "Financing Agreement"), dated as of September 30, 2021, with Trinity, bringing its total borrowings under the Financing Agreement to $11.2 million. The proceeds will be used to finance the acquisition of certain equipment and other property, approved by Trinity.
Pursuant to the Financing Agreement, HI-POWER and Trinity will enter into one or more equipment financing schedules (individually, a “Schedule” and, collectively, the “Schedules”) from time to time, evidencing a borrowing under the Financing Agreement. Under each Schedule, HI-POWER will make monthly payments to Trinity based on monthly payment factors determined by Trinity based on the prime rate reported in The Wall Street Journal on the first day of the month in which a Schedule is executed for the term specified in each Schedule.
The description of the Financing Agreement set forth in Items 1.01 and 2.03 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on October 5, 2021 is incorporated herein by reference. The foregoing description of the Financing Agreement does not purport to be complete and is qualified in its entirety by reference to the Financing Agreement, which was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on October 5, 2021.
Item 9.01 Financial Statement and Exhibits.
(d) Exhibits
| Exhibit Number | Description of Document | |||||||
| 104 | Cover page of this Current Report on Form 8-K formatted in Inline XBRL | |||||||
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EOS ENERGY ENTERPRISES, INC. | |||||||||||
| Dated: September 30, 2022 | By: | /s/ Randall Gonzales | |||||||||
| Name: | Randall Gonzales | ||||||||||
| Title: | Chief Financial Officer | ||||||||||
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