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Eos Energy Enterprises Secures $200 Million Financing Commitment

Apr 28, 2022•about 3 years ago

Amount Raised

$200 Million

EdisonEnergy

Description

Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos"), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced that it has entered into a $200 million common stock standby equity purchase agreement (the “SEPA”) with an affiliate of financing partner Yorkville Advisors (“Yorkville”). The purchase agreement gives Eos the right, but not the obligation, to sell up to $200 million of common equity to an affiliate of Yorkville at the time of Eos’s choosing during the two-year term of the agreement.

Company Information

Company

Eos Energy Enterprises

Location

3920 PARK AVENUE

Edison, New Jersey, United States

About

Eos Energy Enterprises, Inc. is accelerating the shift to clean energy 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. Safe, scalable, efficient, sustainable—and manufactured in the U.S—it's the core of our innovative systems that today provide 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.

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