Operational MilestonesEos announced the successful completion of four of the first performance milestones, which allow the company to draw an additional $30 million on the Delayed Draw Term Loan from Cerberus to support ongoing operations and production.
Production EfficiencyThe company achieved production cycle times of less than 10 seconds while exceeding first pass yield targets in the high 90s, a substantial milestone positioning it for future profitability.
Strategic InvestmentThe company announced a strategic investment by Cerberus Capital Management, which could provide up to $315.5mn in additional funding for the company that will be used to fund Eos's growth initiatives.