- Eos Energy Enterprises Inc (NASDAQ:EOSE) has entered into a definitive agreement for the purchase and sale of an aggregate of 3.6 million of its shares at $2.221 per share.
- The company has also agreed to issue unregistered warrants in a concurrent private placement to purchase up to an aggregate of 3.6 million shares.
- 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.
- The closing of the offering is expected to occur on or about May 17, 2023.
- The company expects gross proceeds to be about $8 million.
- Eos Energy intends to use the net proceeds as working capital as it awaits a determination from the DOE’s loan program office on its loan application.
- Price Action: EOSE shares are trading lower by 5.53% at $2.30 on the last check Monday.
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