Eos Energy Enterprises, Inc. Announces Proposed Registered Direct Offering of Common Stock to Fund Repurchase of Convertible Senior Notes

Core Viewpoint - Eos Energy Enterprises, Inc. has initiated a registered direct offering of common stock and plans a separate private offering of convertible senior notes, aiming to raise funds for repurchasing existing convertible notes and for general corporate purposes [1][2][3]. Group 1: Offering Details - The registered direct offering is subject to market conditions and there is no assurance regarding its completion or terms [1]. - Eos plans to offer $500 million in convertible senior notes due 2031, with an option for an additional $75 million [2]. - The completion of the common stock offering is contingent upon the successful completion of the concurrent notes offering [5]. Group 2: Use of Proceeds - The net proceeds from both the common stock offering and the convertible notes offering will be used to repurchase a portion of the existing 6.75% convertible senior notes due 2030 and for general corporate purposes [3]. Group 3: Repurchase Transactions - Eos intends to engage in privately negotiated transactions to repurchase existing convertible notes, with terms dependent on various market factors [4]. - There is no guarantee on the number of existing convertible notes that will be repurchased or the terms of such repurchases [4]. Group 4: Company Overview - Eos Energy Enterprises focuses on energy independence through innovative energy storage solutions, utilizing Znyth™ technology, which is a safe and scalable alternative to lithium-ion technology [8]. - The company's battery energy storage systems (BESS) are designed for long-duration applications, providing operational flexibility to meet increasing grid demands [8].