Eos Energy Enterprises, Inc. - EOSE STOCK NEWS

Eos Energy Enterprises, Inc. announces a registered direct offering and private placement to raise approximately $8.0 million. The offering consists of 3,601,980 shares of common stock at a purchase price of $2.221 per share and unregistered warrants to purchase up to the same number of shares at an exercise price of $2.50 per share. The closing is expected to occur on May 17, 2023.

Eos Energy Enterprises, Inc. (NASDAQ: EOSE), a leader in innovative zinc-based energy storage solutions, announced that it will disclose its first quarter 2023 financial results on May 9, 2023, after the market closes. A conference call to discuss these results is scheduled for May 10, 2023, at 8:30 a.m. EDT. Interested participants can join via a live webcast available on the company's investor relations website. The replay of the conference call will be accessible for twelve months following the event. Eos focuses on transforming energy storage with its Znyth™ aqueous zinc battery, which aims to offer a safe and efficient alternative to conventional lithium-ion technology. Founded in 2008, Eos is headquartered in Edison, New Jersey, and is committed to advancing clean energy solutions.

Eos Energy Enterprises (NASDAQ: EOSE) announced a definitive agreement to sell 16 million shares at $2.50 each in a registered direct offering, raising approximately $40 million before expenses. Concurrently, the company will issue unregistered warrants to purchase an additional 16 million shares at an exercise price of $3.14, exercisable after six months and expiring in five and a half years. The closing date is expected on or about April 14, 2023, subject to customary conditions. Proceeds will be utilized as working capital for general corporate purposes. The offering is conducted under a previously filed shelf registration statement.

Eos Energy Enterprises, Inc. (NASDAQ: EOSE) reported impressive growth for FY 2022, with revenue reaching $17.9 million, a 4x increase from $4.6 million in 2021. Energy Block shipments rose 4.4x, highlighting strong demand. Orders surged by 2.5x to $338.6 million, contributing to a backlog of $463.8 million. The company reduced unit product costs by 44%, with costs of goods sold at $153.3 million. As of December 31, 2022, Eos held a cash balance of $17.1 million. CEO Joe Mastrangelo emphasized the favorable position of the company heading into 2023, driven by the Inflation Reduction Act and ongoing negotiations with the Department of Energy.

Eos Energy Enterprises, Inc. (NASDAQ: EOSE) will release its fourth quarter and full-year 2022 financial results on February 28, 2023, after U.S. market close. A conference call is scheduled for March 1, 2023, at 8:30 a.m. ET to discuss the results. Participants can access the call through a registration link or via the company’s investor relations website. The conference call will be available for replay for twelve months after the event. Eos specializes in zinc-based energy storage systems, positioning itself as a sustainable energy solution provider. Founded in 2008, the company aims to accelerate the shift to clean energy with innovative battery technology.

Eos Energy Enterprises, Inc. (NASDAQ: EOSE) announced expected 2022 revenues of $17 to $20 million, maintaining previous guidance, with a cash balance of $17 million as of December 31, 2022. The company disclosed a new order for a 47 MWh renewables and storage project and a long-term agreement for up to 4 GWh over the next six years, contributing to its pipeline. For 2023, Eos forecasts revenues between $30 to $50 million, aided by the launch of its next-gen Z3 battery production line. The CEO expressed optimism about market expansion due to the 2022 Inflation Reduction Act and expects to secure a loan of at least $250 million from the Department of Energy.

Eos Energy Enterprises (NASDAQ: EOSE) announced that Randy Gonzales is stepping down as CFO, transitioning to a corporate advisory role due to family health issues. Nathan Kroeker will succeed him, effective January 23, 2023. Gonzales has been pivotal in Eos's scaling and capital diversification, including a $100 million senior secured loan and a recent $13.75 million convertible note. Kroeker, with 25 years of experience including a successful IPO at Spark Energy, expressed enthusiasm for Eos's growth potential. CEO Joe Mastrangelo assured investors that the transition would not disrupt the company's strategic growth plan.

Eos Energy Enterprises (NASDAQ: EOSE) announced a $13.75 million investment in convertible senior notes from several investors, including Clear Creek Investments and Ardsley Advisory Partners. This funding aims to bolster the company's strategic growth and manufacturing capacity. The notes carry a 26.5% interest rate and are convertible at approximately $1.67 per share, maturing in June 2026. Eos specializes in zinc-powered long-duration energy storage solutions, addressing renewable energy's variability. The company emphasizes its U.S.-based manufacturing and locally sourced supply chains to support its global customer base.