Eos Energy Announces Launch of Proposed $40M Public Offering
14 Dezember 2023 - 10:26PM
Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos" or the
“Company”), a leading provider of safe, scalable, efficient, and
sustainable zinc-based long duration energy storage
systems, today announced a proposed underwritten public
offering in which it intends to offer and sell (i) shares of its
common stock and (ii) accompanying common warrants to purchase
shares of common stock. All of the shares of common stock and
accompanying common warrants are being offered by Eos. The offering
is subject to market and other conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
TD Cowen and Stifel are acting as joint
bookrunning managers in the proposed offering.
The securities are being offered by Eos pursuant
to a registration statement on Form S-3 previously filed and
declared effective by the Securities and Exchange
Commission (“SEC”). A preliminary prospectus supplement
and accompanying base prospectus relating to and describing the
terms of the proposed offering will be filed with the SEC.
Copies of the preliminary prospectus supplement and accompanying
base prospectus may also be obtained, when available, from: Cowen
and Company, LLC, 599 Lexington Avenue, New York, NY 10022, by
email at Prospectus_ECM@cowen.com or by telephone at (833)
297-2926; or Stifel, Nicolaus & Company, Incorporated,
Attention: Prospectus Department, One Montgomery Street, Suite
3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by
email at syndprospectus@stifel.com. Electronic copies of the
preliminary prospectus supplement and accompanying prospectus will
also be available on the website of the SEC
at http://www.sec.gov.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy the securities, nor
shall there be any sale of the securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of such state or other jurisdiction.
About Eos Energy Enterprises
Eos Energy Enterprises is a leading provider of
safe, scalable, and sustainable zinc-based battery storage systems.
With a mission to deliver energy storage solutions that are
efficient, reliable, and environmentally friendly, Eos is at the
forefront of revolutionizing the global energy storage landscape.
Eos’ pioneering technology offers a cost-effective and scalable
alternative to other stationary storage systems, enabling a clean
energy future with improved grid reliability and resilience.
Forward Looking Statements
Except for the historical information contained
herein, the matters set forth in this press release are
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, but are not limited to,
statements regarding the completion of the proposed offering, the
size of the offering and the anticipated gross proceeds of the
offering, or other characterizations of future events or
circumstances, including any underlying assumptions. The words
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intends," "may," "might," "plan," "possible," "potential,"
"predict," "project," "should," "would" and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking.
Forward-looking statements are based on our management’s beliefs,
as well as assumptions made by, and information currently available
to, them. Because such statements are based on expectations as to
future financial and operating results and are not statements of
fact, actual results may differ materially from those
projected.
Factors which may cause actual results to differ
materially from current expectations include, but are not limited
to: risks and uncertainties related to market and other conditions
and the satisfaction of customary closing conditions related to the
proposed public offering; the anticipated size of the offering and
use of the proceeds of the offering which could change as a result
of market conditions or for other reasons; changes adversely
affecting the business in which we are engaged; our ability to
forecast trends accurately; our ability to generate cash, service
indebtedness and incur additional indebtedness; our ability to
raise financing in the future; our customer’s ability to secure
project financing; the amount of final tax credits available to our
customers or to Eos Energy Enterprises, Inc. pursuant to the
Inflation Reduction Act; uncertainties around our ability to secure
conditional commitment in a timely manner or at all, or final
approval of a loan from the Department of Energy, the Loan Programs
Office, or the timing of funding and the final size of any loan if
approved; the possibility of a government shutdown while we remain
in the due diligence phase with the U.S. Department of Energy Loan
Programs Office or while we await notice of a decision regarding
the issuance of a loan from the Department Energy Loan Programs
Office; our ability to develop efficient manufacturing processes to
scale and to forecast related costs and efficiencies accurately;
fluctuations in our revenue and operating results; competition from
existing or new competitors; the failure to convert firm order
backlog and pipeline to revenue; risks associated with security
breaches in our information technology systems; risks related to
legal proceedings or claims; risks associated with evolving energy
policies in the United States and other countries and the potential
costs of regulatory compliance; risks associated with changes to
U.S. trade environment; risks resulting from the impact of global
pandemics, including the novel coronavirus, Covid-19; our ability
to maintain the listing of our shares of common stock on NASDAQ;
our ability to grow our business and manage growth profitably,
maintain relationships with customers and suppliers and retain our
management and key employees; risks related to adverse changes in
general economic conditions, including inflationary pressures and
increased interest rates; risk from supply chain disruptions and
other impacts of geopolitical conflict; changes in applicable laws
or regulations; and other risks and uncertainties. The
forward-looking statements contained in this press release are also
subject to additional risks, uncertainties, and factors, including
those more fully described in the Company’s most recent filings
with the Securities and Exchange Commission, including the
Company’s most recent Annual Report on Form 10-K and subsequent
reports on Forms 10-Q and 8-K, including those under the heading
“Risk Factors” therein, and other factors identified in Eos’s prior
and future SEC filings with the SEC, available at www.sec.gov.
Further information on potential risks that
could affect actual results will be included in the subsequent
periodic and current reports and other filings that the Company
makes with the Securities and Exchange Commission from time to
time. Moreover, the Company operates in a very competitive and
rapidly changing environment, and new risks and uncertainties may
emerge that could have an impact on the forward-looking statements
contained in this press release.
Forward-looking statements speak only as of the
date they are made. Readers are cautioned not to put undue reliance
on forward-looking statements, and, except as required by law, the
Company assumes no obligation and does not intend to update or
revise these forward-looking statements, whether as a result of new
information, future events, or otherwise.
Contacts Investors:
ir@eose.comMedia:
media@eose.com
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