** Energy storage systems provider Eos Energy's EOSE.O shares fall 6.3% to $4.23 premarket
** New Jersey-based EOSE sells 18.75 million shares at $4 apiece to raise $75 million
** Offering priced at 11.4% discount to stock's last close
** Separately, EOSE privately placed $225 million of convertible bonds due 2030
** Initial conversion price of $5.10 represents 13% upside to stock's last close
** Stock slumped 24.7% on Thursday after EOSE unveiled the stock and convertible bond offerings
** EOSE had ~227.6 million shares outstanding as of May 29, per SEC filing
** Earlier this week, EOSE terminated Chief Financial Officer Eric Javidi “without cause”
** As of last close, EOSE stock down 7.1% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.