ESS Tech issues warrants for 12,800,000 shares in private placement at $0.5 each

Reuters2026/08/21 20:05

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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.
Net proceeds earmarked for general corporate purposes, working capital, and about USD 1.5 million to repay the YA II PN promissory note.
Transaction closed Aug. 21, 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ESS Tech Inc published the original content used to generate this news brief via Business Wire (Ref. ID: 20260821056409) on August 21, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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ESS Tech issues warrants for 12,800,000 shares in private placement at $0.5 each

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