2023-05-15 11:52:14 ET
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Eos Energy ( EOSE ) on Monday launched a direct registered offering to raise $8 million.
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The company will offer 3,601,980 shares at a purchase price of $2.221 per share.
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The company has also agreed to issue in a concurrent private placement unregistered warrants to purchase up to an aggregate of 3,601,980 shares of common stock.
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The warrants will have an exercise price of $2.50 per share, become exercisable no later than July 15, 2023, and will expire five years from the initial exercisability date.
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The company intends to use the net proceeds from the offering as working capital as it awaits a determination from the DOE’s loan program office on its loan application.
For further details see:
Eos Energy launches $8M direct offering