We advised Eos Energy on the concurrent offerings

Davis Polk advised Eos Energy Enterprises, Inc. in connection with an $86.25 million SEC-registered offering of 21,562,500 shares of its common stock (which included 2,812,500 shares of its common stock that the underwriters purchased pursuant to their option to purchase additional shares) and a Rule 144A offering of an aggregate principal amount of $225 million of its 6.75% convertible senior notes due 2030.

Eos is using the net proceeds from the offerings (i) to repurchase in full its outstanding 5%/6% convertible senior PIK toggle note due 2026 in a privately negotiated transaction, (ii) to prepay a portion of the amount due under its credit agreement, dated June 21, 2024, by and between Eos and CCM Denali Debt Holdings, LP and (iii) for general corporate purposes.

Eos is an American energy company and America’s leading innovator in designing, manufacturing and providing zinc-based battery energy storage systems sourced and manufactured in the United States.

The Davis Polk capital markets team included partners Roshni Banker Cariello and Michael Kaplan and associates Steven Glendon and Matthew L. Hulse. The equity derivatives team included partner Mark J. DiFiore and associate Danielle Forni. Partner Lucy W. Farr and associates William Liang and Georgianna Eck provided tax advice. All members of the Davis Polk team are based in the New York office.

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