Eos Energy (EOSE) Prices 34.48M Share Offering at $1.45/sh

Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos" or the “Company”), a leading provider of safe, scalable, efficient, and sustainable zinc-based long duration energy storage systems, today announced the pricing of an underwritten public offering of (i) 34,482,759 shares of its common stock and (ii) accompanying common warrants to purchase one share of common stock for each share of common stock sold. The combined offering price to the public of each share of common stock and accompanying one common warrant is $1.45. The accompanying common warrants have an exercise price of $1.60 per share, are exercisable immediately, and will expire five years following the date of issuance. All of the shares of common stock and accompanying common warrants are being offered by Eos. Before deducting the underwriting discounts and commissions and other offering expenses, Eos expects to receive total gross proceeds of approximately $50 million. The offering is expected to close on or about December 19, 2023, subject to the satisfaction of customary closing conditions

TD Cowen and Stifel are acting as joint bookrunning managers in the offering.

Eos intends to use the net proceeds from the offering for general corporate purposes, including working capital and capital expenditures.

The securities are being offered by Eos pursuant to a registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission (“SEC”). The offering is being made only by means of a prospectus, consisting of a prospectus supplement and an accompanying prospectus. A preliminary prospectus supplement relating to and describing the terms of the offering was filed on December 14, 2023. A final prospectus supplement and accompanying prospectus relating to this offering will be filed with the SEC. Copies of the preliminary prospectus supplement and accompanying base prospectus may also be obtained, when available, from: Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, by email at [email protected] or by telephone at (833) 297-2926; or Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at [email protected]. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or other jurisdiction.

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