Financing ·
ESS Tech, Inc. closed a registered direct offering and concurrent private placement on August 21, 2026, issuing…
GWH-WTESS Tech, Inc.
ESS Tech, Inc. closed a registered direct offering and concurrent private placement on August 21, 2026, issuing 6,400,000 shares of common stock at $0.50 per share to institutional investors. The company also issued warrants to purchase 12,800,000 additional shares at an exercise price of $0.50 per share, exercisable upon obtaining stockholder approval within 60 days. Gross proceeds totaled approximately $3.2 million, with net proceeds expected around $2.5 million after fees and expenses. The company intends to use the funds for general corporate purposes, working capital, and to repay approximately $1.5 million of a promissory note owed to YA II PN, Ltd. Roth Capital Partners served as the exclusive placement agent. ESS Tech operates in the energy storage industry, providing non-lithium battery solutions.