Eos Energy raises $8M through registered direct offering and warrant private placement at $2.221/share

Eos Energy Enterprises, Inc.

Offers 3,601,980 shares at $2.221 each and same number of warrants with $2.50 exercise price.
Gross proceeds of ~$8M; net proceeds used for working capital while awaiting DOE loan determination.
Warrants exercisable no later than July 15, 2023, expire five years from initial exercise date.
Closing expected May 17, 2023; TD Cowen served as financial advisor.
Shares sold under effective shelf registration; warrants issued in private placement exempt from registration.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Eos Energy Enterprises, Inc. entered into Purchase Agreement with the investors named on the signature pages thereto (the "Purchasers") valued at $8.0 million (effective 2023-05-15).

Action: entry
Agreement: equity purchase
Counterparty: the investors named on the signature pages thereto (the "Purchasers")
Value: $8.0 million
Effective: 2023-05-15

Exact text from the filing

On May 15, 2023, Eos Energy Enterprises, Inc., a Delaware corporation (the “Company”), entered into a securities purchase agreement (the “Purchase Agreement”) with the investors named on the signature pages thereto (the “Purchasers”), pursuant to which the Company agreed to issue and sell an aggregate of: (i) 3,601,980 shares (the “Shares”) of the Company’s common stock, $0.0001 par value (the “Common Stock”) at a purchase price of $2.221 per share in a registered direct offering (the “Registered Direct Offering”), and (ii) unregistered warrants (the “Warrants”) to purchase up to 3,601,980 shares of Common Stock in a concurrent private placement (the “Private Placement” and together with the Registered Direct Offering, the “Offerings”).

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Eos Energy Enterprises, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-040885

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