Fluence Energy, Inc S-3ASR, filed Aug 11, 2023

Fluence Energy, Inc. (FLNC)

S-3ASR 2023-08-11

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	Large accelerated filer ☐			Accelerated filer ☐
	Non-accelerated filer ☒			Smaller reporting company ☐
	Emerging growth company ☒

	Page
ABOUT THIS PROSPECTUS		1
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION		2
WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY REFERENCE		4
ABOUT FLUENCE ENERGY, INC.		6
RISK FACTORS		7
USE OF PROCEEDS		8
DESCRIPTION OF CAPITAL STOCK		9
DESCRIPTION OF DEBT SECURITIES		15
DESCRIPTION OF OTHER SECURITIES		22
GLOBAL SECURITIES		23
SELLING SECURITYHOLDERS		27
PLAN OF DISTRIBUTION		29
LEGAL MATTERS		31
EXPERTS		31

	Shares Beneficially Owned Before Offering								% of Total Voting Power Before Offering(2)		Maximum Number of Shares of Class A Common Stock to be Sold in Offering		Shares Beneficially Owned After Offering
	Class A Common Stock				Class B-1 Common Stock(1)								Class A Common Stock				Class B-1 Common Stock				% of Total Voting Power After Offering(2)
Name	Shares		% of Class A Common Stock		Shares		% of Class B-1 Common Stock						Shares		% of Class A Common Stock		Shares		% of Class B-1 Common Stock		% of Total Voting Power After Offering(2)
AES Grid Stability, LLC(3)		—		—		58,586,695		100%		71.2%		58,586,695		—		—		—		—		—
Siemens AG(4)		58,586,695		49.4%		—		—		14.2%		58,586,695		—		—		—		—		—
Qatar Holding LLC(5)		18,493,275		15.6%		—		—		4.5%		18,493,275		—		—		—		—		—

	Amount to be Paid
SEC registration fee for shares offered by the Selling Securityholders identified herein		$	402,467
SEC registration fee		$	(1)
FINRA filing fee		$	(2)
Printing expenses		$	(2)
Legal fees and expenses		$	(2)
Accounting fees and expenses		$	(2)
Blue Sky, qualification fees and expenses		$	(2)
Transfer agent fees and expenses		$	(2)
Trustee fees and expenses		$	(2)
Depositary fees and expenses		$	(2)
Warrant agent fees and expenses		$	(2)
Miscellaneous		$	(2)
Total		$	(2)

Exhibit No.			Document
1.1*			Form of Underwriting Agreement.
3.1			Amended and Restated Certificate of Incorporation of Fluence Energy, Inc.(incorporated herein by reference to Exhibit 3.1 of the Company’s Form 8-K filed on November 3, 2021).
3.2			First Certificate of Amendment to the Amended and Restated Certificate of Incorporation of Fluence Energy, Inc. (incorporated herein by reference to Exhibit 3.1 of the Company’s Form 8-K filed on December 22, 2022).
3.3			Amended and Restated By-Laws of Fluence Energy, Inc. (incorporated herein by reference to Exhibit 3.2 of the Company’s Form 8-K filed on November 3, 2021).
4.1			Specimen Stock Certificate evidencing the shares of Class A common Stock (incorporated herein by reference to Exhibit 4.1 of the Company’s Form S-1/A (File No. 333-259839) filed on October 19, 2021).
4.2*			Form of Specimen Certificate evidencing the shares of Preferred Stock.
4.3			Form of Indenture.
4.4*			Form of Debt Security.
4.5*			Form of Deposit Agreement.
4.6*			Form of Warrant.
4.7*			Form of Warrant Agreement.
4.8*			Form of Purchase Contract Agreement.
4.9*			Form of Unit Agreement.
5.1			Opinion of Latham & Watkins LLP.
23.1			Consent of Ernst & Young LLP.
23.2			Consent of Latham & Watkins LLP (included in Exhibit 5.1).
24.1			Power of Attorney (included on the signature page of this registration statement).
25.1			Form T-1 Statement of Eligibility and Qualification under the Trust Indenture Act of 1939 of the Trustee under the Indenture of Fluence Energy, Inc. filed as Exhibit 4.3.
107			Filing Fee Table.

Signature	Title	Date
/s/ Julian Nebreda Julian Nebreda	President, Chief Executive Officer and Director (Principal Executive Officer)	August 11, 2023
/s/ Manavendra Sial Manavendra Sial	Senior Vice President and Chief Financial Officer (Principal Financial Officer)	August 11, 2023
/s/ Amrita Chatterjee Amrita Chatterjee	Chief Accounting Officer (Principal Accounting Officer)	August 11, 2023
/s/ Cynthia Arnold Cynthia Arnold	Director	August 11, 2023
/s/ Herman Bulls Herman Bulls	Director	August 11, 2023
/s/ Ricardo Falu Ricardo Falu	Director	August 11, 2023

ARTICLE I. DEFINITIONS AND INCORPORATION BY REFERENCE		1
Section 1.1.	Definitions	1
Section 1.2.	Other Definitions	4
Section 1.3.	Incorporation by Reference of Trust Indenture Act	4
Section 1.4.	Rules of Construction	5

ARTICLE II. THE SECURITIES		5
Section 2.1.	Issuable in Series	5
Section 2.2.	Establishment of Terms of Series of Securities	6
Section 2.3.	Execution and Authentication	8
Section 2.4.	Registrar, Paying Agent and Notice Agent	9
Section 2.5.	Paying Agent to Hold Money in Trust	10
Section 2.6.	Holder Lists	10
Section 2.7.	Transfer and Exchange	10
Section 2.8.	Mutilated, Destroyed, Lost and Stolen Securities	11
Section 2.9.	Outstanding Securities	12
Section 2.10.	Treasury Securities	12
Section 2.11.	Temporary Securities	12
Section 2.12.	Cancellation	13
Section 2.13.	Defaulted Interest	13
Section 2.14.	Global Securities	13
Section 2.15.	CUSIP Numbers	15

ARTICLE III. REDEMPTION		15
Section 3.1.	Notice to Trustee	15
Section 3.2.	Selection of Securities to be Redeemed	16
Section 3.3.	Notice of Redemption	16
Section 3.4.	Effect of Notice of Redemption	17
Section 3.5.	Deposit of Redemption Price	17
Section 3.6.	Securities Redeemed in Part	17

ARTICLE IV. COVENANTS		17
Section 4.1.	Payment of Principal and Interest	17
Section 4.2.	SEC Reports	18
Section 4.3.	Compliance Certificate	18
Section 4.4.	Stay, Extension and Usury Laws	18

ARTICLE V. SUCCESSORS		19
Section 5.1.	When Company May Merge, Etc.	19
Section 5.2.	Successor Corporation Substituted	19

ARTICLE VI. DEFAULTS AND REMEDIES		20
Section 6.1.	Events of Default	20
Section 6.2.	Acceleration of Maturity; Rescission and Annulment	21
Section 6.3.	Collection of Indebtedness and Suits for Enforcement by Trustee	21
Section 6.4.	Trustee May File Proofs of Claim	22
Section 6.5.	Trustee May Enforce Claims Without Possession of Securities	23
Section 6.6.	Application of Money Collected	23
Section 6.7.	Limitation on Suits	23
Section 6.8.	Unconditional Right of Holders to Receive Principal and Interest	24
Section 6.9.	Restoration of Rights and Remedies	24
Section 6.10.	Rights and Remedies Cumulative	24
Section 6.11.	Delay or Omission Not Waiver	25
Section 6.12.	Control by Holders	25
Section 6.13.	Waiver of Past Defaults	25
Section 6.14.	Undertaking for Costs	26

ARTICLE VII. TRUSTEE		26
Section 7.1.	Duties of Trustee	26
Section 7.2.	Rights of Trustee	27
Section 7.3.	Individual Rights of Trustee	28
Section 7.4.	Trustee’s Disclaimer	29
Section 7.5.	Notice of Defaults	29
Section 7.6.	Reports by Trustee to Holders	29
Section 7.7.	Compensation and Indemnity	29
Section 7.8.	Replacement of Trustee	30
Section 7.9.	Successor Trustee by Merger, Etc.	31
Section 7.10.	Eligibility; Disqualification	31
Section 7.11.	Preferential Collection of Claims Against Company	31

ARTICLE VIII. SATISFACTION AND DISCHARGE; DEFEASANCE		32
Section 8.1.	Satisfaction and Discharge of Indenture	32
Section 8.2.	Application of Trust Funds; Indemnification	33
Section 8.3.	Legal Defeasance of Securities of any Series	33
Section 8.4.	Covenant Defeasance	35
Section 8.5.	Repayment to Company	36
Section 8.6.	Reinstatement	36

ARTICLE IX. AMENDMENTS AND WAIVERS		36
Section 9.1.	Without Consent of Holders	36
Section 9.2.	With Consent of Holders	37
Section 9.3.	Limitations	38
Section 9.4.	Compliance with Trust Indenture Act	38
Section 9.5.	Revocation and Effect of Consents	38
Section 9.6.	Notation on or Exchange of Securities	39
Section 9.7.	Trustee Protected	39

ARTICLE X. MISCELLANEOUS		39
Section 10.1.	Trust Indenture Act Controls	39
Section 10.2.	Notices	40
Section 10.3.	Communication by Holders with Other Holders	41
Section 10.4.	Certificate and Opinion as to Conditions Precedent	41
Section 10.5.	Statements Required in Certificate or Opinion	41
Section 10.6.	Rules by Trustee and Agents	42
Section 10.7.	Legal Holidays	42
Section 10.8.	No Recourse Against Others	42
Section 10.9.	Counterparts	42
Section 10.10.	Governing Law; Waiver of Jury Trial; Consent to Jurisdiction	43
Section 10.11.	No Adverse Interpretation of Other Agreements	43
Section 10.12.	Successors	43
Section 10.13.	Severability	43
Section 10.14.	Table of Contents, Headings, Etc.	43
Section 10.15.	Securities in a Foreign Currency	44
Section 10.16.	Judgment Currency	44
Section 10.17.	Force Majeure	45
Section 10.18.	U.S.A. Patriot Act	45

ARTICLE XI. SINKING FUNDS		45
Section 11.1.	Applicability of Article	45
Section 11.2.	Satisfaction of Sinking Fund Payments with Securities	46
Section 11.3.	Redemption of Securities for Sinking Fund	46

§ 310(a)(1)		7.10
(a)(2)		7.10
(a)(3)		Not Applicable
(a)(4)		Not Applicable
(a)(5)		7.10
(b)		7.10
§ 311(a)		7.11
(b)		7.11
(c)		Not Applicable
§ 312(a)		2.6
(b)		10.3
(c)		10.3
§ 313(a)		7.6
(b)(1)		7.6
(b)(2)		7.6
(c)(1)		7.6
(d)		7.6
§ 314(a)		4.2, 10.5
(b)		Not Applicable
(c)(1)		10.4
(c)(2)		10.4
(c)(3)		Not Applicable
(d)		Not Applicable
(e)		10.5
(f)		Not Applicable
§ 315(a)		7.1
(b)		7.5
(c)		7.1
(d)		7.1
(e)		6.14
§ 316(a)		2.10
(a)(1)(A)		6.12
(a)(1)(B)		6.13
(b)		6.8
§ 317(a)(1)		6.3
(a)(2)		6.4
(b)		2.5
§ 318(a)		10.1

TERM		DEFINED IN SECTION

“Agent Member”		2.14.6
“Bankruptcy Law”		6.1
“Custodian”		6.1
“Event of Default”		6.1
“Judgment Currency”		10.16
“mandatory sinking fund payment”		11.1
“New York Banking Day”		10.16
“Notice Agent”		2.4
“optional sinking fund payment”		11.1
“Paying Agent”		2.4
“Registrar”		2.4
“Required Currency”		10.16
“Specified Courts”		10.10
“successor person”		5.1

	Fluence Energy, Inc.

	By:
		Name:
		Its:

	U.S. Bank Trust Company, National Association, as Trustee

	By:
		Name:
		Its:

	1271 Avenue of the Americas
	New York, New York 10020-1401
	Tel: +1.212.906.1200 Fax: +1.212.751.4864
	www.lw.com

	FIRM / AFFILIATE OFFICES
	Austin	Milan
	Beijing	Munich
	Boston	New York
	Brussels	Orange County
August 11, 2023	Century City	Paris
	Chicago	Riyadh
	Dubai	San Diego
	Düsseldorf	San Francisco
	Frankfurt	Seoul
	Hamburg	Shanghai
	Hong Kong	Silicon Valley
Fluence Energy, Inc.	Houston	Singapore
4601 Fairfax Drive, Suite 600	London	Tel Aviv
Arlington, Virginia 22203	Los Angeles	Tokyo
	Madrid	Washington, D.C.

Delaware	87-1304612
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

	03/31/2023
Assets
Cash and Balances Due From Depository Institutions	$	839,082
Securities		4,425
Federal Funds		0
Loans & Lease Financing Receivables		0
Fixed Assets		1,939
Intangible Assets		580,455
Other Assets		126,317
Total Assets	$	1,552,218

Liabilities
Deposits	$	0
Fed Funds		0
Treasury Demand Notes		0
Trading Liabilities		0
Other Borrowed Money		0
Acceptances		0
Subordinated Notes and Debentures		0
Other Liabilities		95,562
Total Liabilities	$	95,562

Equity
Common and Preferred Stock		200
Surplus		1,171,635
Undivided Profits		284,821
Minority Interest in Subsidiaries		0
Total Equity Capital	$	1,456,656

Total Liabilities and Equity Capital	$	1,552,218