Eos Energy falls after stock sale, convertible deal priced

Eos Energy Enterprises

30/05/2025 12:05

** Energy storage systems provider Eos Energy's EOSE.O shares fall 6.3% to $4.23 premarket

** New Jersey-based EOSE sells 18.75 million shares at $4 apiece to raise $75 million

** Offering priced at 11.4% discount to stock's last close

 ** Separately, EOSE privately placed $225 million of convertible bonds due 2030

** Initial conversion price of $5.10 represents 13% upside to stock's last close

** Stock slumped 24.7% on Thursday after EOSE unveiled the stock and convertible bond offerings

** EOSE had ~227.6 million shares outstanding as of May 29, per SEC filing

** Earlier this week, EOSE terminated Chief Financial Officer Eric Javidi “without cause”

** As of last close, EOSE stock down 7.1% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))