Eos Energy Enterprises, Inc. Announces Pricing of Common Stock Offering
EDISON, N.J., May 30, 2025 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ('Eos' or the 'Company') today announced the pricing of an offering of 18,750,000 shares of common stock at a price to the public of $4.00 per share (the 'Offering'). The Offering is being made pursuant to the Securities Act of 1933, as amended (the 'Securities Act'). The Company has granted the underwriters of the Offering, a 30-day option to purchase up to an additional 2,812,500 shares of common stock, at the public offering price, less the underwriting discounts. The Offering is expected to close on June 2, 2025, subject to customary closing conditions.
The net proceeds from the Offering will be $70,500,000 (or $81,075,000 if the underwriters exercise their option to purchase additional shares in full), after deducting underwriting discounts and commissions. The Company intends to use the net proceeds from the Offering, together with the net proceeds from the offering of the notes referred to below, if it is consummated, (i) to repurchase the full $126 million aggregate principal amount outstanding of its 5%/6% Convertible Senior PIK Toggle Note due 2026 in a privately negotiated transaction for approximately $131 million; (ii) to prepay $50 million of outstanding borrowings due under its credit agreement, dated June 21, 2024, by and between Eos and CCM Denali Debt Holdings, LP (the 'Credit Agreement'); and (iii) for general corporate purposes. Upon the prepayment of $50 million of outstanding borrowings under the Credit Agreement, the PIK interest rate under the Credit Agreement will decrease from 15% to 7% and the financial covenants thereunder will be waived until 2027. CCM Denali Equity Holdings, LP has agreed that upon the consummation of the offering it will not transfer any securities issued to it under the Securities Purchase Agreement, dated June 21, 2024, between the Company and CCM Denali Equity Holdings, LP prior to June 21, 2026.
In a separate press release, the Company also announced today the pricing of its previously announced private offering of $225,000,000 aggregate principal amount of 6.75% convertible senior notes due 2030 (the 'notes'), plus up to an additional $25,000,000 aggregate principal amount of notes that the initial purchasers of the note offering have the option to purchase from the Company. The issuance and sale of the notes are scheduled to settle on June 3, 2025, subject to customary closing conditions. The completion of the offering of common stock is not contingent on the completion of the offering of the notes, and the completion of the offering of notes is not contingent on the completion of the offering of common stock. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any notes or shares of common stock, if any, issuable upon conversion of the notes.
Jefferies and J.P. Morgan acted as joint lead book-running managers for the Offering. TD Cowen and Stifel acted as passive book-runners for the Offering. Johnson Rice & Company acted as a co-manager for the Offering.
The Company is conducting the Offering pursuant to an effective shelf registration statement, including a base prospectus, under the Securities Act of 1933, as amended. The Offering is being made only by means of a separate prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus relating to the Offering may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at prospectus_department@jefferies.com; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com. Before you invest in the Offering, you should read the applicable prospectus supplement relating to the Offering and accompanying prospectus, the registration statement and the other documents that the Company has filed with the Securities and Exchange Commission as incorporated by reference therein, for more complete information about the Company and the Offering. Investors may obtain these documents for free by visiting the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Eos Energy Enterprises
Eos Energy Enterprises, Inc. is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. Our breakthrough Znyth™ aqueous zinc battery was designed to overcome the limitations of conventional lithium-ion technology. It is safe, scalable, efficient, sustainable, manufactured in the U.S., and the core of our innovative systems that today provides utility, industrial, and commercial customers with a proven, reliable energy storage alternative for 3 to 12-hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey.
Forward-Looking Statements
This press release includes forward-looking statements, including statements regarding the anticipated terms of the notes being offered, the completion, timing and size of the proposed offering and the intended use of the proceeds. Forward-looking statements represent Eos's current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, the trading price and volatility of Eos's common stock and risks relating to Eos's business, including those described in periodic reports that Eos files from time to time with the SEC. Eos may not consummate the proposed offering described in this press release and, if the proposed offering are consummated, cannot provide any assurances regarding the final terms of the offering or the notes or its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and Eos does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.
ContactsInvestors: ir@eose.comMedia: media@eose.comSign in to access your portfolio
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
2 hours ago
- Miami Herald
Tempus AI hits back at scathing short report
On May 28, Tempus AI (TEM) stock plunged as the market reacted to a damning report from short seller Spruce Point Capital. One day later, the company responded to the accusations against it. A company at the intersection of healthcare and artificial intelligence (AI), Tempus began trading on the Nasdaq in June 2024, a year that didn't see too many high-profile initial public offerings (IPOs). For that reason, Tempus stood out, and investors were hungry for new AI stocks to buy. Don't miss the move: Subscribe to TheStreet's free daily newsletter While trading has been fairly volatile, TEM stock has mostly risen and is currently up 35% for the year. Since 2025 began, its performance has been quite strong, with year-to-date (YTD) gains of almost 60%. The damning short report from Spruce Point Capital pushed shares down this week, although TEM stock has since recovered. Tempus took the opportunity to respond to short sellers' claims and offer its own take on the allegations. Since its founding in 2009, Spruce Point Capital has released over 100 forensic short reports, laying out cases against companies across various industries. In April 2025, it revealed short positions in travel tech company Clear Secure and popular beverage producer Monster Energy. Related: Billionaire fund manager, skeptical of AI, backs shocking stock Most recently, though, it published a detailed short report that revealed a bet against Tempus stock. In it, the short-seller estimated that TEM stock posed a "50%-60% potential long-term downside and market underperformance risk" for investors, primarily due to concerns regarding its leadership and AI capabilities. For context, Tempus uses AI to improve precision medicine solutions, as well as drug discovery and diagnostics. Its operating system is reported to analyze medical information and make it accessible for patients, as well as doctors and scientific researchers. However, Spruce Point's researchers make it clear in the report that they harbor grave concerns about the AI hype surrounding TEM stock, suggesting that it may be significantly overblown. The short seller also discusses Tempus founder and CEO Eric Lefkofsky, highlighting comparisons he has drawn to his company and market leaders such as Tesla and Nvidia. "He suggests that Tempus is likely to reach a similar inflection point, and that vast upside is around the corner. However, 10 years since being founded in 2015, there is no evidence that Tempus has generated a profit or net positive cash flow," Spruce Point notes. More AI News: OpenAI teams up with legendary Apple execMajor AI CEO sounds alarm on jobless 'bloodbath' in near-termSalesforce makes a big bet on booming tech market The report raises the point that after a decade of operation, both Tesla and Nvidia had posted $2 billion in revenue and achieved at least one cash flow positive year. It notes that in 2024, only $12.4 million, roughly 2% of Tempus's yearly revenue, came from AI applications. The underlying theme of the Spruce Point short report seems to be that it believes Tempus's AI hype is overblown and poses a massive risk for investors. For that reason, TEM stock earns a Strong Sell Opinion from the firm. Related: Google hit with scathing accusations from top VC firm Not all companies respond after being targeted by a short seller, but on May 29, Tempus issued a statement on X, addressing the report. The company described Spruce Point's claims as inaccurate and misleading, encouraging investors to do their own research. "We do not intend to respond through the media to a report that is riddled with inaccuracies, conjecture, and ill-informed hypotheticals," the health care company stated. "It also fails to address Tempus' history of strong financial performance and impressive growth." Tempus also took its argument a step further, claiming that the last five stocks targeted by Spruce Point are up "on average, over 20% in the past 4 months." The company added that it stands by its results and remains committed to helping health care professionals leverage AI for the benefit of patients. Related: Legendary tech expert has unexpected view of AI impact on jobs The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
2 hours ago
- Yahoo
LeMaitre Vascular, Inc.'s (NASDAQ:LMAT) Intrinsic Value Is Potentially 17% Below Its Share Price
Using the 2 Stage Free Cash Flow to Equity, LeMaitre Vascular fair value estimate is US$67.98 LeMaitre Vascular's US$82.20 share price signals that it might be 21% overvalued Analyst price target for LMAT is US$105, which is 54% above our fair value estimate In this article we are going to estimate the intrinsic value of LeMaitre Vascular, Inc. (NASDAQ:LMAT) by taking the forecast future cash flows of the company and discounting them back to today's value. Our analysis will employ the Discounted Cash Flow (DCF) model. There's really not all that much to it, even though it might appear quite complex. We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars: 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Levered FCF ($, Millions) US$50.0m US$58.8m US$71.3m US$67.4m US$74.8m US$78.9m US$82.6m US$86.0m US$89.3m US$92.4m Growth Rate Estimate Source Analyst x4 Analyst x4 Analyst x2 Analyst x1 Analyst x1 Est @ 5.43% Est @ 4.69% Est @ 4.16% Est @ 3.80% Est @ 3.54% Present Value ($, Millions) Discounted @ 7.4% US$46.5 US$50.9 US$57.5 US$50.6 US$52.3 US$51.3 US$50.0 US$48.5 US$46.8 US$45.2 ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$500m The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.9%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.4%. Terminal Value (TV)= FCF2034 × (1 + g) ÷ (r – g) = US$92m× (1 + 2.9%) ÷ (7.4%– 2.9%) = US$2.1b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$2.1b÷ ( 1 + 7.4%)10= US$1.0b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$1.5b. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of US$82.2, the company appears slightly overvalued at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent. The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at LeMaitre Vascular as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.4%, which is based on a levered beta of 1.036. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. View our latest analysis for LeMaitre Vascular Strength Earnings growth over the past year exceeded the industry. Debt is not viewed as a risk. Dividends are covered by earnings and cash flows. Weakness Dividend is low compared to the top 25% of dividend payers in the Medical Equipment market. Expensive based on P/E ratio and estimated fair value. Opportunity Annual earnings are forecast to grow for the next 3 years. Threat Annual earnings are forecast to grow slower than the American market. Whilst important, the DCF calculation shouldn't be the only metric you look at when researching a company. It's not possible to obtain a foolproof valuation with a DCF model. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. Why is the intrinsic value lower than the current share price? For LeMaitre Vascular, we've compiled three essential aspects you should further research: Risks: Consider for instance, the ever-present spectre of investment risk. We've identified 1 warning sign with LeMaitre Vascular , and understanding it should be part of your investment process. Future Earnings: How does LMAT's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered! PS. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Effettua l'accesso per consultare il tuo portafoglio
Yahoo
2 hours ago
- Yahoo
CF Bankshares' (NASDAQ:CFBK) investors will be pleased with their splendid 129% return over the last five years
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But on a lighter note, a good company can see its share price rise well over 100%. For instance, the price of CF Bankshares Inc. (NASDAQ:CFBK) stock is up an impressive 118% over the last five years. Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. During five years of share price growth, CF Bankshares achieved compound earnings per share (EPS) growth of 2.7% per year. This EPS growth is slower than the share price growth of 17% per year, over the same period. This suggests that market participants hold the company in higher regard, these days. And that's hardly shocking given the track record of growth. The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers). Dive deeper into CF Bankshares' key metrics by checking this interactive graph of CF Bankshares's earnings, revenue and cash flow. As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of CF Bankshares, it has a TSR of 129% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence! It's nice to see that CF Bankshares shareholders have received a total shareholder return of 25% over the last year. That's including the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 18% per year), it would seem that the stock's performance has improved in recent times. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. If you would like to research CF Bankshares in more detail then you might want to take a look at whether insiders have been buying or selling shares in the company. If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
