• EOS Energy, a Nasdaq-listed next-gen long-duration battery startup, has received a four-year, senior secured term loan facility of USD 85 million from Atlas Credit Partners.

• The four-year, non-amortizing term loan will bear a variable interest of secured overnight financing rate (SOFR) plus 8.5%. Under the loan agreement, the company can make a one-time request for an additional commitment of up to USD 15 million, subject to lender consent. 

• The funds raised will be used to expand EOS Energy’s manufacturing capacity and to deliver the company’s 1.9 gigawatt hours order backlog worth USD 460 million. In addition, a part of the capital will also fund the development of next-gen energy storage systems and general corporate purposes. 

<ul><li> Analyst QuickTake : In April 2022 , EOS Energy secured a USD 200 million common stock standby equity purchase agreement (SEPA) led by Yorkville Advisors, to scale up manufacturing capacity and for product development.</ul>