(RTTNews) - Eos Energy Enterprises, Inc. (EOSE) on Thursday announced the pricing of a registered direct offering of 35.86 million shares at $12.78 per share. The offering is expected to close on November 24, 2025.
Separately, the company priced $525 million of 1.75% convertible senior notes due 2031 in a private offering, increasing the deal size from a previously planned $500 million. Eos also granted the initial purchasers an option to buy up to an additional $75 million of the notes.
The initial conversion rate is 61.3704 shares per $1,000 principal amount, implying a conversion price of about $16.29 per share, representing a 27.5% premium to the closing share price on November 19.
Eos estimates net proceeds from the notes offerings will total approximately $507.9 million, or about $580.5 million if the purchasers fully exercise their additional notes option.
In conjunction with the pricing, the company entered into agreements with a limited number of holders of its existing 6.75% convertible senior notes due 2030 to repurchase $200 million of those notes for roughly $564.6 million, including interest.
Eos said it plans to use the proceeds of about $458.2 million from the stock offering, along with proceeds from the notes offering, to fund the repurchase of a portion of its 2030 notes, and for general corporate purposes.
The issuance and sale of the new notes are expected to settle on November 24.
Eos shares rose more than 4% in pre-market trading after closing at $12.78 on Wednesday.
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