BUZZ-Eos Energy rises on deal to capitalize Frontier Power USA

Eos Energy

Eos Energy

EOSE

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** Shares of energy storage systems provider EOS Energy EOSE.O rise 40% to $11.34 premarket

** EOSE and Cerberus Capital Management to capitalize Frontier Power USA, a new company that will build, own and operate long-duration battery energy storage projects using EOSE's zinc-bromide Z3 technology

** Cerberus commits $100 million in equity to help fund Frontier Power USA, and will receive EOSE warrants and controlling equity in Frontier

** EOSE signs agreement with Frontier Power USA to reserve 2 gigawatt-hours of battery capacity

** As of last close, stock down 29.32% YTD



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