Eos Energy Enterprises (EOSE) said Friday it priced a $225 million private offering of 6.75% convertible senior notes due June 15, 2030, upsized from the previously planned $175 million.

The company has granted the initial purchasers an option to buy up to an additional $25 million of the notes.

Eos Energy expects the offering to close Tuesday and plans to use the expected net proceeds of $216 million to help repurchase the full $126 million outstanding of its 5%/6% convertible senior PIK toggle note due 2026, among other things.

The company's shares were down 6.8% in recent premarket activity.