Eos Energy launches $500 million convertible notes offering

EDISON, N.J. - Eos Energy Enterprises, Inc. (NASDAQ:EOSE) announced Tuesday it has commenced a registered direct offering of common stock to a limited number of purchasers, according to a company press release. The move comes as the stock has experienced significant volatility, dropping nearly 30% over the past week despite posting an impressive 504% return over the last year, according to InvestingPro data.

The energy storage company also revealed plans to offer $500 million in convertible senior notes due 2031 in a separate private offering to qualified institutional buyers, with an option for initial purchasers to buy an additional $75 million in notes.

Eos intends to use proceeds from both offerings to repurchase a portion of its outstanding 6.75% convertible senior notes due 2030 and for general corporate purposes. The company expects to enter into privately negotiated transactions with current noteholders for these repurchases concurrently with the pricing of the common stock offering.

Goldman Sachs & Co. LLC is serving as the sole placement agent for the common stock offering, which is being conducted under an effective shelf registration statement.

The completion of the common stock offering is contingent upon the completion of the notes offering, though the notes offering is not dependent on the common stock offering.

Eos specializes in battery energy storage systems featuring its Znyth technology, which the company describes as a non-flammable alternative to conventional lithium-ion technology for utility-scale and commercial applications.

The offerings remain subject to market conditions and other factors, with no assurance regarding completion timing, final terms, or whether they will be completed at all.

In other recent news, Eos Energy Enterprises reported its third-quarter 2025 financial results, revealing a substantial net loss primarily due to non-cash fair value adjustments. The company's revenue doubled from the previous quarter, reaching $30.5 million, but still fell short of forecasts. Eos Energy recorded a negative earnings per share of $4.91, significantly lower than the projected loss of $0.24. Additionally, Eos Energy raised $76.9 million through the exercise of approximately 6.7 million public warrants since late September 2025. These warrants had an exercise price of $11.50 per share and expired in mid-November 2025. In another development, Eos Energy has entered into a Joint Development Agreement with Bimergen Energy Corporation to further battery energy storage projects. This partnership aims to leverage Eos's zinc-based battery technology alongside Bimergen's project development expertise. These recent developments reflect the company's ongoing efforts to enhance its financial standing and expand its strategic partnerships.

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