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Hudson Bay Capital Management LP may be deemed the beneficial owner of 30,568,009 Eos Energy Enterprises, Inc. (EOSE) common shares, equal to 7.75%. The reported amount includes 30,383,219 shares issuable upon exchange of Frontier Units and exercise of warrants. Hudson Bay and Sander Gerber each report shared voting and dispositive power over the amount; Gerber, managing member of Hudson Bay Capital GP LLC, disclaims beneficial ownership. The securities are held by three funds managed by Hudson Bay, and the percentage calculation uses 364,167,744 shares outstanding as of August 3, 2026, assuming exercise of the warrants and exchange of the Frontier Units held by those funds.
Key Figures
Beneficial ownership:30,568,009 sharesPercent of class:7.75%Shares issuable:30,383,219 shares+1 more
4 metrics
Beneficial ownership30,568,009 sharesReported amount for Eos Energy common stock
Percent of class7.75%Calculated using the stated outstanding-share count and assuming exercise of warrants and exchange of Frontier Units
Shares issuable30,383,219 sharesUpon exchange of certain Frontier Units and exercise of warrants
Shares outstanding364,167,744 sharesAs of August 3, 2026
Key Terms
beneficial owner, Shared Voting Power, Shared Dispositive Power, Frontier Units
4 terms
beneficial ownerfinancial
"may be deemed to be the beneficial owner"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
Shared Voting Powerfinancial
"Shared Voting Power 30,568,009.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
Shared Dispositive Powerfinancial
"Shared Dispositive Power 30,568,009.00"
Frontier Unitstechnical
"upon exchange of certain units issued by Frontier Power USA Parent, LLC"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many EOSE shares does Hudson Bay report beneficially owning?
Hudson Bay Capital Management LP may be deemed the beneficial owner of 30,568,009 Eos Energy common shares, or 7.75%. The securities are held in the names of three funds for which Hudson Bay serves as investment manager.
How many EOSE shares in the reported amount are issuable through Frontier Units and warrants?
The reported amount includes 30,383,219 shares issuable upon exchange of certain Frontier Units and upon exercise of warrants.
What share count was used to calculate Hudson Bay's EOSE ownership percentage?
The calculation uses 364,167,744 shares outstanding as of August 3, 2026 and assumes exercise of warrants and exchange of the Frontier Units held by Hudson Bay Master Fund Ltd., HT Investments MA LLC and HBC MSF Capital Solutions Blocker II LLC.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Eos Energy Enterprises, Inc.
(Name of Issuer)
Common Stock, par value $0.0001
(Title of Class of Securities)
29415C101
(CUSIP Number)
09/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
29415C101
1
Names of Reporting Persons
Hudson Bay Capital Management LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
30,568,009.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
30,568,009.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
30,568,009.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.75 %
12
Type of Reporting Person (See Instructions)
IA, PN
Comment for Type of Reporting Person: Includes 30,383,219 shares of Common Stock (as defined in Item 4(a)) issuable upon exchange of certain units issued by Frontier Power USA Parent, LLC (the "Frontier Units") and upon exercise of warrants.
SCHEDULE 13G
CUSIP Number(s):
29415C101
1
Names of Reporting Persons
Sander Gerber
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
30,568,009.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
30,568,009.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
30,568,009.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.75 %
12
Type of Reporting Person (See Instructions)
HC, IN
Comment for Type of Reporting Person: Includes 30,383,219 shares of Common Stock issuable upon exchange of the Frontier Units and upon exercise of warrants.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Eos Energy Enterprises, Inc.
(b)
Address of issuer's principal executive offices:
Two Allegheny Center, Nova Tower 2, Pittsburgh, Pennsylvania 15212
Item 2.
(a)
Name of person filing:
This statement is filed by Hudson Bay Capital Management LP (the "Investment Manager") and Mr. Sander Gerber ("Mr. Gerber"), who are collectively referred to herein as "Reporting Persons."
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is 290 Harbor Dr., Stamford, CT 06902.
(c)
Citizenship:
The Investment Manager is a Delaware limited partnership. Mr. Gerber is a United States citizen.
(d)
Title of class of securities:
Common Stock, par value $0.0001
(e)
CUSIP Number(s):
29415C101
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 364,167,744 shares of Common Stock, par value $0.0001 (the "Common Stock") of Eos Energy Enterprises, Inc. (the "Company") outstanding as of August 3, 2026, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026 filed with the Securities and Exchange Commission on August 5, 2026, and assumes the exercise of the warrants and the exchange of the Frontier Units held by Hudson Bay Master Fund Ltd., HT Investments MA LLC and HBC MSF Capital Solutions Blocker II LLC.
The Investment Manager serves as the investment manager to Hudson Bay Master Fund Ltd., HT Investments MA LLC and HBC MSF Capital Solutions Blocker II LLC, in whose name the securities reported herein are held. As such, the Investment Manager may be deemed to be the beneficial owner of all shares of Common Stock and shares of Common Stock issuable upon exercise of warrants and exchange of the Frontier Units held by Hudson Bay Master Fund Ltd., HT Investments MA LLC and HBC MSF Capital Solutions Blocker II LLC. Mr. Gerber serves as the managing member of Hudson Bay Capital GP LLC, which is the general partner of the Investment Manager. Mr. Gerber disclaims beneficial ownership of these securities.
(b)
Percent of class:
7.75%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See Item 4(a).
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See Item 3 and Item 4(a).
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Hudson Bay Capital Management LP
Signature:
/s/ Sander Gerber
Name/Title:
Sander Gerber, Authorized Signatory
Date:
11/06/2026
Sander Gerber
Signature:
/s/ Sander Gerber
Name/Title:
Sander Gerber, Individually
Date:
11/06/2026
Exhibit Information
Exhibit 99.1: Joint Filing Agreement
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.
DATED: November 6, 2026
HUDSON BAY CAPITAL MANAGEMENT LP
By: /s/ Sander Gerber
Name: Sander Gerber
Title: Authorized Signatory
/s/ Sander Gerber
SANDER GERBER
