BUZZ-Eos Energy slides on planned $500 mln convertible bond sale, direct stock deal

Reuters
2025/11/19
BUZZ-Eos Energy slides on planned $500 mln convertible bond sale, direct stock deal

** Shares of Eos Energy EOSE.O down 10.7% post-market to $12.04 as energy storage systems provider seeks capital to pay down some debt

** Edison, New Jersey-based EOSE announces private offering of $500 mln 6-yr convertible bonds (CBs)

** It also announces registered direct stock offering to a limited number of purchasers with Goldman Sachs as sole placement agent

** Co plans to use net offering proceeds from the new CBs and concurrent equity offering to repurchase a portion of its outstanding 6.75% CBs 2030, and for general corporate purposes

** With ~288.2 mln shares outstanding, EOSE has about $3.9 bln market cap

** Shares on Tues ended session up 3.7% at $13.48, up 177% YTD

** Avg rating among 9 analysts is "buy"; median PT of $15 up from $8 a month ago, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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