Eos Energy, a U.S.-based energy storage company that designs and manufactures long-duration zinc-based battery systems for grid and industrial applications, has closed a previously announced $600 million convertible senior notes offering.
According to the transaction, the offering of 1.75% convertible senior notes due 2031 generated approximately $580.5 million in net proceeds. With the initial purchasers fully exercising their option to buy additional notes, the company now has $600 million in total convertible notes issued and outstanding.
Simultaneously, the company also announced the closing of its registered direct offering of 35,855,647 shares of common stock at a price of $12.78 per share to a limited number of purchasers for aggregate proceeds of approximately $458.2 million.
The financing is expected to strengthen the company’s balance sheet and provide additional flexibility to scale manufacturing, advance its commercial pipeline, support backlog conversion, and help catch up, expanding demand for American-made long-duration energy storage.
“This financing positions Eos to compete from a position of strength,” said Joe Mastrangelo, Eos Chief Executive Officer. “With a stronger balance sheet and a more efficient capital structure, we can scale with speed and certainty at a time when the world is entering an energy supercycle. Long-duration storage is becoming essential infrastructure, and this transaction gives Eos the ability to invest in U.S. manufacturing, meet accelerating demand, and lead the market as this cycle unfolds.”
According to Mercom’s 9M and Q3 2025 Funding and M&A for Energy Storage report, announced debt and public market financing for Energy Storage technology companies decreased 44% YoY with $8.4 billion in 29 deals in 9M 2025 compared to $15 billion raised in 22 deals in 9M 2024.
In July, NOVONIX, a battery materials and technology provider, entered into a definitive funding agreement with Yorkville Advisors Global (Yorkville) to secure up to $95 million. In exchange, the company is expected to issue up to $100 million in unsecured convertible debentures to Yorkville under a multi-tranche funding agreement.
