InvestmentJun 4, 2026, 08:06 AM

Xos Announces $6.0M Registered Direct Offering for Growth

AI Summary

Xos, Inc. announced a registered direct offering of 1,090,910 shares of its common stock at $5.50 per share, expected to generate approximately $6.0 million in gross proceeds. The company intends to use the net proceeds to fund its growth plans, including the expansion of its Power Hub and energy storage business into grid-independent power markets serving AI data centers and industrial facilities. Additionally, funds will be allocated for working capital, general corporate purposes, and debt repayment. Roth Capital Partners is acting as the exclusive placement agent for the offering, which is anticipated to close around June 5, 2026.

Key Highlights

Xos announced a registered direct offering of common stock.
Offering involves 1,090,910 shares at $5.50 per share.
Expected gross proceeds of approximately $6.0 million.
Proceeds to fund expansion into AI data center and industrial power markets.
Funds also for working capital, general corporate purposes, and debt repayment.
Offering expected to close on or about June 5, 2026.

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