Xos, Inc. Enters $20M At-the-Market Offering Agreement With Roth Capital

Author: Benzinga Newsdesk | August 14, 2025 04:37pm

On August 14, 2025, Xos, Inc. (the "Company") entered into a Sales Agreement (the "Sales Agreement") with Roth Capital Partners, LLC (the "Agent"). Pursuant to the terms of the Sales Agreement, the Company may offer and sell shares of the Company's common stock, par value $0.0001 (the "Shares") having an aggregate offering amount of up to $20 million from time to time through the Agent. Pursuant to General Instruction I.B.6 of Form S-3, the Company can currently only sell up to $5,367,542 pursuant to the Sales Agreement. The Agent will use its commercially reasonable efforts, as the agent and subject to the terms of the Sales Agreement, to sell the Shares offered. Sales of the Shares, if any, may be made in sales deemed to be an "at-the-market offering" as defined in Rule 415 under the Securities Act of 1933, as amended. The Agent will be entitled to a commission from the Company of 3.0% of the gross proceeds from the sale of Shares sold under the Sales Agreement. In addition, the Company has agreed to reimburse certain expenses incurred by the Agent in connection with the offering. The Company intends to use any net proceeds from the offering for working capital, debt servicing and general corporate purposes, including any mandatory payments pursuant to the terms of our Second Amended and Restated Convertible Promissory Note.

Posted In: XOS