Eos Energy Enterprises announced that holders of its public warrants exercised 6.7 million warrants at an exercise price of $11.50 per share, generating $76.9 million in gross proceeds. The warrants, which expired on November 17 2025, were exercised between September 30 and November 17, and the company received the proceeds on November 18 2025.
The capital raise provides a substantial liquidity boost that will accelerate the company’s Z3 battery production, expand U.S. manufacturing capacity, and fund the development of new battery modules. In the most recent quarter, Eos reported $30.5 million in revenue and a $644.4 million backlog, underscoring the need for additional working capital to meet growing demand in data‑center and utility markets.
Eos’s balance sheet benefits from the infusion, as the raise improves its debt profile and reduces interest expense. Because the exercised warrants were already included in the company’s fully diluted share count, the transaction does not introduce new dilution for existing shareholders.
Management emphasized that the proceeds will support the company’s path to profitability, with expectations of positive gross margins by the first quarter of 2026. The company’s focus on scaling production and maintaining a high‑margin product mix is intended to translate the capital into revenue growth and improved profitability.
The warrant exercise signals strong investor confidence and positions Eos to pursue larger projects and secure more favorable financing terms in the future. The event is a key milestone in the company’s strategy to become a leading provider of zinc‑based energy storage solutions in the United
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