ESS Tech issues warrants for 12,800,000 shares in private placement at $0.5 each
GWH•Use of proceeds and closing date
Net proceeds are earmarked for general corporate purposes, working capital, and about USD 1.5 million to repay the YA II PN promissory note.
The transaction closed Aug. 21, 2026.
Private placement and registered direct sale
ESS Tech closed a $3.2 million financing featuring a concurrent private placement of warrants tied to a registered direct share sale.
Investors received warrants for up to 12,800,000 shares, exercisable at USD 0.5 following stockholder approval, expiring five years later.
The registered direct leg sold 6,400,000 common shares at USD 0.5 per share, implying potential additional dilution if warrants are exercised.
