Eos Energy Enterprises, Inc. Announces Proposed Convertible Senior Notes Offering

Core Viewpoint - Eos Energy Enterprises, Inc. plans to offer $175 million in convertible senior notes due 2030, with an additional option for purchasers to buy up to $26.25 million more, to strengthen its financial position and support corporate initiatives [1][5]. Group 1: Offering Details - The notes will be senior, unsecured obligations, maturing on June 15, 2030, and will accrue interest payable semi-annually [2]. - Noteholders can convert their notes into cash, shares of common stock, or a combination, at the company's discretion [2][4]. - The notes are redeemable at Eos's option starting June 20, 2028, under specific conditions related to the stock price [3]. Group 2: Use of Proceeds - The net proceeds from the notes offering will be used to repurchase existing convertible senior notes due 2026, prepay a portion of the credit agreement, and for general corporate purposes [5]. - A prepayment of $50 million under the credit agreement will reduce the PIK interest rate from 15% to 7% and waive financial covenants until 2027 [5]. Group 3: Additional Offerings - Eos also intends to offer $75 million of its common stock, with an additional $11.25 million option for underwriters, independent of the notes offering [6].