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GWH-News
GWH-Events
ESS Tech Stock to Transition to Unlisted Trading
ESS Tech provided an update on the listing status of its common stock. As of October 5, ESS common stock may be quoted and traded in the market for unlisted securities under the ticker GWHT. The platform transition follows the October 2, notification from the New York Stock Exchange that the staff of NYSE Regulation had suspended trading in the common stock immediately and determined to commence delisting proceedings. The determination was made pursuant to Section 802.01B of the NYSE Listed Company Manual, which requires listed companies to maintain an average global market capitalization of at least $15M over a consecutive 30-trading-day period. The Company currently intends to request review of NYSE Regulation's determination by a Committee of the Board of Directors of the NYSE by submitting a written request within ten business days of receiving the notice as permitted pursuant to NYSE procedures. Shareholders are not required to take any steps related to the suspension. Shares of common stock remain outstanding and continue to be held in the same accounts. The Company also remains subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, and intends to continue filing annual, quarterly and current reports with the SEC.
Selling Stockholders Plan to Sell 13.12M Shares of Common Stock
This filing relates to the offer and sale from time to time by the selling stockholders of up to 13.12M shares of common stock. The company is not selling any shares under this prospectus and will not receive any of the proceeds from the sale of shares by the selling stockholders.
ESS Tech Achieves Awardable Status for Energy Storage Technology
ESS Tech has achieved Awardable status through the Chief Digital and Artificial Intelligence Office's Tradewinds Solutions Marketplace, positioning the company's energy storage technology for consideration by Department of War customers seeking innovative solutions to support energy resilience and other mission-critical applications.
ESS Tech Trading Halted, News Pending
ESS Tech trading halted, news pending
ESS Tech Completes Registered Direct Offering of 6.4M Shares
ESS Tech announced that it has entered into definitive agreements in a registered direct offering with institutional investors for the purchase and sale of 6.4M shares of common stock at a price of 50c per share of common stock. In addition, in a concurrent private placement, the company will issue to investors warrants to purchase up to 12.8M shares of common stock. The warrants have an exercise price of 50c per share and will become exercisable immediately following the date of stockholder approval and expire on the fifth anniversary of the issuance date of the warrant. Aggregate gross proceeds to the company are expected to be approximately $3.2M, before deducting placement agent fees and other offering expenses payable by the company. The transaction is expected to close on or about August 21, subject to the satisfaction of customary closing conditions. The company expects to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital.
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