Eos Energy Enterprises, Inc. announced its intention to offer $500,000,000 aggregate principal amount of convertible senior notes due 2031 in a private offering.
The notes will be senior, unsecured obligations with the right to convert under certain circumstances and will mature on December 1, 2031.
Eos Energy Enterprises expects to use the net proceeds for repurchasing outstanding convertible senior notes due 2030 and for general corporate purposes.
Notes Offering
Eos Energy Enterprises plans to offer $500,000,000 convertible senior notes due in 2031 to qualified institutional buyers.
Redemption Options
The notes will be redeemable in cash by Eos Energy Enterprises at its option under specified conditions.
Net Proceeds Usage
The company intends to use the net proceeds for repurchasing existing convertible notes and general corporate purposes.
- The Offering and Concurrent Equity Offering aim to strengthen Eos Energy Enterprises' financial position.
- Repurchasing existing convertible notes may impact the company's long-term debt structure positively.
Eos Energy Enterprises' strategic move to offer convertible senior notes and repurchase existing notes demonstrates its commitment to optimizing its capital structure and enhancing financial flexibility for future growth.