ESS Tech

ESS Tech completed a registered direct placement of 6.4 million common shares at $0.50 each and concurrently issued warrants to purchase up to 12.8 million common shares at a $0.50 exercise price, which will be exercisable for five years subject to shareholder approval. Gross proceeds are about $3.2 million before fees; net proceeds are intended for general corporate purposes and working capital, including approximately $1.5 million to repay a liability to YA II PN, Ltd. Roth Capital Partners served as exclusive placement agent, and the offering was registered on the basis of an effective S-3 prospectus. » More on de.investing.com

ESS Tech has agreed with institutional investors to a registered direct placement of 6.4 million common shares at $0.50 each and concurrently issued warrants for up to 12.8 million common shares with an exercise price of $0.50. The warrants will be exercisable following shareholder approval and have a five‑year term. The company expects gross proceeds of about $3.2 million and intends to use the net proceeds, together with existing cash, for general corporate purposes and working capital. Roth Capital Partners is serving as exclusive placement agent; the placement is being made pursuant to an effective S‑3 shelf registration. » More on de.investing.com

ESS Tech presented a strategic realignment to a dual platform of iron‑flow batteries and a new sodium‑ion division at the Micro‑Cap Virtual Conference. The company reports customer interest exceeding $1 billion and a letter of intent with Juniper Energy for delivery to a large California utility in late 2027. A fully functional sodium‑ion prototype is to be demonstrated by the end of 2026; thereafter, conversion of interest into binding orders and an expected revenue uplift in 2027 will depend on financing and prototype performance. ESS Tech is considering government loans, investor funding and other financing options while maintaining disciplined cost management. » More on de.investing.com