Eos Energy Enterprises, Inc. (EOSE): debt financing — Eos Energy issues $225M 6.75% convertible notes; repurchases $126M PIK notes

Eos Energy Enterprises, Inc.

Issued $225M of 6.75% convertible senior notes due 2030; initial conversion price ~$5.10/share, ~27.5% premium over concurrent stock offering.
Used ~$131M of net proceeds to repurchase the full $126M outstanding 5%/6% PIK toggle note due 2026.
Will prepay $50M under CCM Denali credit agreement, cutting PIK rate from 15% to 7% and waiving covenants until 2027.
Concurrently priced underwritten public offering of 18.75M shares at $4.00/share (plus up to 2.81M option shares).
Net proceeds from notes estimated at $216M (or $240M if green-shoe fully exercised); stock offering expected to settle June 2, 2025.

item 1.01 item 2.03 item 2.04 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Eos Energy Enterprises, Inc. incurred convertible notes of $225,000,000 aggregate principal amount with Wilmington Trust, National Association at 6.75% per annum maturing June 15, 2030.

Instrument: convertible notes
Principal: $225,000,000 aggregate principal amount
Counterparty: Wilmington Trust, National Association
Rate: 6.75% per annum
Maturity: June 15, 2030
Event: incurrence

Exact text from the filing

On June 3, 2025 (the "Closing Date"), Eos Energy Enterprises, Inc. (the "Company") issued $225,000,000 aggregate principal amount of its 6.75% Convertible Senior Notes due 2030

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Eos Energy Enterprises, Inc. faced acceleration on convertible notes of $126.0 million aggregate principal amount outstanding of the Company’s 5%/6% Convertible Senior PIK Toggle Note due 2026 maturing due 2026.

Instrument: convertible notes
Principal: $126.0 million aggregate principal amount outstanding of the Company’s 5%/6% Convertible Senior PIK Toggle Note due 2026
Maturity: due 2026
Event: acceleration

Exact text from the filing

On June 3, 2025, the Company used approximately $131.0 million of the net proceeds of the offering of the Notes to repurchase the full $126.0 million aggregate principal amount outstanding of the Company’s 5%/6% Convertible Senior PIK Toggle Note due 2026

View on SEC.gov

114 debt financings filed in the last 30 days. Browse all debt financings →

Eos Energy Enterprises, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-050833

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.