Energy Vault completes $140M convertible notes private offering

Energy Vault Holdings ( (NRGV) ) has issued an update.

On February 17, 2026, Energy Vault Holdings, Inc. completed a $140 million private offering of 5.250% Convertible Senior Notes due 2031, issuing unsecured debt that pays semiannual interest and can be converted into common stock under specified stock price and trading conditions. The notes, which feature an initial conversion price at a 27.5% premium to the February 11, 2026 share price, include standard redemption, default and “fundamental change” protections that shape potential dilution and capital structure outcomes for creditors and shareholders.

In connection with the February 11, 2026 pricing of the notes, the company entered into capped call transactions with financial institutions designed to reduce potential dilution from note conversions and to offset cash payments above principal, with a $8.12 per share cap set at a 100% premium to the then-market price. The common shares underlying the notes were not registered under the Securities Act, signaling that any conversions or related issuances will rely on exemptions and could alter ownership dynamics over time without an immediate public resale registration pathway.

The most recent analyst rating on (NRGV) stock is a Buy with a $5.50 price target. To see the full list of analyst forecasts on Energy Vault Holdings stock, see the NRGV Stock Forecast page.

Spark’s Take on NRGV Stock

According to Spark, TipRanks’ AI Analyst, NRGV is a Neutral.

The score is held back primarily by weak financial performance (severe losses, negative ROE, and negative operating cash flow) and loss-driven valuation (negative P/E, no dividend). Offsetting these are strong technical uptrend signals and an upbeat earnings call featuring rapid revenue growth, improving margins, a growing backlog, and maintained full-year guidance.

To see Spark’s full report on NRGV stock, click here.

More about Energy Vault Holdings

Energy Vault Holdings, Inc. operates in the energy storage sector, focusing on grid-scale storage solutions that support renewable energy integration. The company’s business model centers on deploying technology and capital-market strategies to fund and optimize long-duration energy storage projects, targeting utilities and large energy users seeking reliability and decarbonization.

Average Trading Volume: 3,501,567

Technical Sentiment Signal: Hold

Current Market Cap: $535.3M

For a thorough assessment of NRGV stock, go to TipRanks’ Stock Analysis page.