Eos Announces Pricing of Registered Direct Offering of Common Stock and Warrants to Fund Investment in Frontier Power USA

About this update from Eos Energy Enterprises, Inc.

EDISON, N.J., June 30, 2026 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos" or the "Company") today announced the pricing of a registered direct offering (the "Offering") to Hudson Bay Capital Management of 13,683,634 shares of our common stock, par value $0.0001 per share, and 6,004,378 warrants, each warrant to purchase one share of common stock at an exercise price of $5.481 per share. Each share of common stock is being offered and sold together with 0.4388 of an accompanying Warrant at an aggregate offering price of $5.481. The Offering is being made pursuant to the Securities Act of 1933, as amended (the "Securities Act"). The Offering is expected to close on July 1, 2026, subject to customary closing conditions. The proceeds from the Offering are expected to be approximately $75 million (excluding any future exercise of warrants). Eos expects to use the net proceeds from the Offering as well as any proceeds from its proposed rights offering to fund its contribution to Frontier Power USA Parent, LLC ("FPUSA"). The closing of this Offering is subject to customary closing conditions. Hudson Bay Capital Management has also committed to invest $50 million directly into FPUSA, subject to certain conditions. The commitment brings FPUSA's expected equity investment up to approximately $375 million, assuming full subscription in the Company's proposed rights offering. Under FPUSA's planned financing model, that equity base is expected to support more than $1.5 billion of deployable project capital at approximately 75% loan-to-value (LTV). The additional capital supports strong customer demand and the continued expansion of FPUSA's project pipeline. FPUSA has a robust pipeline of approximately 16 GWh of long-duration energy storage projects across key U.S. markets. Of this current pipeline, approximately 2.7 GWh represents high-probability conversion opportunities, including approximately 1.2 GWh expected to be ready to sign, with a portion anticipated to reach notice to proceed in the near term, creating opportunities for capital deployment. Eos and FPUSA hold a previously announced 2 GWh manufacturing capacity reservation agreement, of which approximately 25% is already allocated to projects advancing toward execution. By combining project development, dedicated manufacturing capacity, financing, and execution under one platform, FPU...

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