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Energy Vault Holdings ( (NRGV) ) has provided an update.
On February 11, 2026, Energy Vault priced an upsized private placement of $140 million in 5.25% convertible senior notes due 2031, marketed to qualified institutional buyers, with an additional $20 million purchase option for initial purchasers and expected settlement on February 17, 2026. The notes carry an initial conversion price of about $5.18 per share, a 27.5% premium to the firm’s last closing price, and are structured to be redeemable for cash, stock or a mix, giving the company flexibility in managing future equity dilution and capital structure.
Energy Vault expects net proceeds of roughly $135.5 million, or up to $154.8 million if the option is fully exercised, earmarking funds for capped call transactions, partial redemption of existing convertible debentures and general corporate purposes including debt repayment and growth initiatives. In tandem, the company entered capped call transactions with financial institutions, designed to limit potential dilution from note conversions and partially offset cash outlays above principal, although associated hedging activity by counterparties could influence trading dynamics in Energy Vault’s shares and notes over time.
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., based in Westlake Village, Calif., develops, deploys and operates utility-scale energy storage solutions focused on sustainable, grid-scale applications. Its portfolio spans proprietary battery, gravity and green hydrogen storage technologies, all integrated through a technology-agnostic energy management software platform serving utilities, independent power producers and large industrial energy users.
The company’s systems are designed to deliver safe and reliable energy dispatching and optimization across short, long and multi-day or ultra-long duration use cases. By tailoring storage solutions to diverse operational needs, Energy Vault targets customers seeking to enhance grid resilience, decarbonize power portfolios and improve the economics of renewable energy integration at scale.
Average Trading Volume: 3,091,732
Technical Sentiment Signal: Buy
Current Market Cap: $672.8M
See more data about NRGV stock on TipRanks’ Stock Analysis page.