Eos Energy Enterprises announced the expiration and results of its rights offering, which closed on July 21, 2026. The company received subscriptions for 6,885,218 units out of the 27,367,171 units offered, at a price of $5.481 per unit, with each unit consisting of one share of common stock and 0.4388 of a warrant to purchase one share at an exercise price of $5.481 per whole share. The common stock and warrants will separate upon closing and be issued individually, with distribution expected on or about August 3, 2026. Aggregate gross proceeds from the rights offering are expected to be $37.7 million. Including this amount, the previously announced investment from Hudson Bay Capital Management, and the commitment from Cerberus Capital Management, approximately $263 million in gross proceeds have been raised in support of Frontier Power USA, exceeding the company's target and expected to initially support more than $1 billion of deployable project capital.
Eos Energy Enterprises IncRights offering raised $37.7 million, contributing to $263 million total to support Frontier Power USA.
Hudson Bay Capital Management's investment is part of the $263 million raised, indicating commitment.