Eos announces common stock offering, $500M convertible senior notes offering

Eos Energy (EOSE) Enterprises announced that it has commenced a registered direct offering of common stock to a limited number of purchasers. The offering is being made pursuant to the Securities Act of 1933, as amended. Eos also announced its intention to offer, in a separate, private offering to persons reasonably believed to be qualified institutional buyers, subject to market and other conditions, $500M aggregate principal amount of convertible senior notes due 2031, plus up to an additional $75M aggregate principal amount of notes that the initial purchasers of the notes offering have the option to purchase. Eos expects to use the net proceeds from the offering, together with the net proceeds from the concurrent notes offering, (i) to repurchase a portion of Eos’s outstanding 6.75% convertible senior notes due 2030 and (ii) for general corporate purposes. The completion of the offering is conditioned upon the completion of the concurrent notes offering. The completion of the concurrent notes offering is not contingent on the completion of the offering. Goldman Sachs & Co. is acting as sole placement agent for the offering.