(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Exhibit Number | Description of Document | |||||||
99.1 | ||||||||
104 | Cover page of this Current Report on Form 8-K formatted in Inline XBRL |
EOS ENERGY ENTERPRISES, INC. | |||||||||||
Dated: August 14, 2023 | By: | /s/ Nathan Kroeker | |||||||||
Name: | Nathan Kroeker | ||||||||||
Title: | Chief Financial Officer |
Investors: | ir@eose.com | ||||
Media: | media@eose.com |
2 |
3 |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Revenue | |||||||||||||||||||||||
Total revenue | $ | 249 | $ | 5,895 | $ | 9,084 | $ | 9,193 | |||||||||||||||
Costs and expenses | |||||||||||||||||||||||
Cost of goods sold | 11,246 | 36,866 | 38,186 | 72,443 | |||||||||||||||||||
Research and development expenses | 5,026 | 5,464 | 10,471 | 10,427 | |||||||||||||||||||
Selling, general and administrative expenses | 13,138 | 19,115 | 27,093 | 33,394 | |||||||||||||||||||
Loss from write-down of property, plant and equipment | 5,436 | 1,997 | 6,196 | 2,005 | |||||||||||||||||||
Grant (income) expense, net | — | (169) | — | 4 | |||||||||||||||||||
Total costs and expenses | 34,846 | 63,273 | 81,946 | 118,273 | |||||||||||||||||||
Operating loss | (34,597) | (57,378) | (72,862) | (109,080) | |||||||||||||||||||
Interest expense, net | 4,886 | 284 | 9,715 | 622 | |||||||||||||||||||
Interest expense, related party | 14,758 | 2,664 | 28,513 | 4,838 | |||||||||||||||||||
Change in fair value of derivatives - related party | 74,633 | (4,248) | 87,723 | (12,510) | |||||||||||||||||||
Loss on debt extinguishment/ other expense | 2,754 | 632 | 4,405 | 513 | |||||||||||||||||||
Loss before income taxes | $ | (131,628) | $ | (56,710) | $ | (203,218) | $ | (102,543) | |||||||||||||||
Income tax expense (benefit) | 2 | (23) | 12 | (65) | |||||||||||||||||||
Net loss | $ | (131,630) | $ | (56,687) | $ | (203,230) | $ | (102,478) | |||||||||||||||
Basic and diluted loss per share attributable to common shareholders | |||||||||||||||||||||||
Basic | $ | (1.12) | $ | (1.01) | $ | (1.99) | $ | (1.86) | |||||||||||||||
Diluted | $ | (1.12) | $ | (1.01) | $ | (1.99) | $ | (1.86) | |||||||||||||||
Weighted average shares of common stock | |||||||||||||||||||||||
Basic | 117,320,802 | 56,021,185 | 102,106,041 | 54,991,475 | |||||||||||||||||||
Diluted | 117,320,802 | 56,021,185 | 102,106,041 | 54,991,475 |
4 |
June 30, 2023 | December 31, 2022 | ||||||||||
Balance sheet data | |||||||||||
Cash and cash equivalents | $ | 23,243 | $ | 17,076 | |||||||
Other current assets | 40,728 | 38,071 | |||||||||
Property and equipment, net | 19,683 | 27,169 | |||||||||
Other assets | 25,296 | 24,472 | |||||||||
Total assets | 108,950 | 106,788 | |||||||||
Total liabilities | 338,491 | 239,499 | |||||||||
Total deficit | (229,541) | (132,711) |
Six Months Ended June 30, | |||||||||||
2023 | 2022 | ||||||||||
Cash used in operating activities | $ | (75,582) | $ | (86,992) | |||||||
Cash used in investing activities | (10,100) | (11,758) | |||||||||
Cash provided by financing activities | 92,612 | 10,584 | |||||||||
Effect of foreign exchange on cash, cash equivalents & restricted cash | 3 | 2 | |||||||||
Net increase (decrease) in cash, cash equivalents and restricted cash | 6,933 | (88,164) | |||||||||
Cash, cash equivalents and restricted cash, beginning of the period | 31,223 | 105,692 | |||||||||
Cash, cash equivalents and restricted cash, end of the period | $ | 38,156 | $ | 17,528 |
5 |
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