Eos Energy Enterprises, Inc. (NASDAQ: EOSE), shares began Tuesday only slightly higher. The Edison, New Jersey-based company, purporting America’s leading innovator in designing, manufacturing, and providing zinc-based long duration energy storage (LDES) systems sourced and manufactured in the United States, today announced certain updated terms of a distribution of subscription rights to holders of its common stock and holders of its warrants to purchase common stock issued on April 14, 2023, May 17, 2023, December 19, 2023 and November 21, 2025 to acquire shares of the Company’s common stock and warrants to purchase shares of the Company’s common stock in a rights offering to fund the Company’s previously announced capital contribution in the Frontier Power USA joint venture.
In the rights offering, the Company expects to distribute rights to acquire a number of units, comprised of the Company’s common stock and warrants. As previously announced, the record date for the Rights Distribution will be at 5:00 pm New York time on July 1, 2026 and the distribution date for the Rights Distribution will be on July 2, 2026.
Each right is expected to entitle an Eligible Holder to purchase, pursuant to the basic subscription privilege, approximately 0.0714 of a Unit at a subscription price equal to $5.481 per whole Unit, an approximate 10% discount to the closing price of the Company’s common stock on June 29. Each Unit shall consist of one share of our common stock and 0.4388 of a Warrant.
EOS shares added three cents to begin Tuesday at $6.12.
