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Why is Eos Energy Enterprises Inc (EOSE) Stock down?

We've noticed a 11.87% decline in Eos Energy Enterprises Inc (EOSE) stock during the 2024-05-15 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
15 Dec, 2023:

Shares of Eos Energy Enterprises Inc (EOSE) dropped by 32.74% from $1.68 to $1.13 in the trading on Friday, December 15, 2023. The reason why EOSE down today is due to the company' announcement of an underwritten public offering, comprising 34,482,759 common stock shares and accompanying common warrants. The combined offering price was $1.45 per share, with warrants exercisable at $1.60 per share, valid for five years from issuance. Eos expected to raise approximately $50 million in gross proceeds before expenses.

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