ESS Tech (NYSE: GWH) announced the closing of its previously announced registered direct offering with institutional investors, raising approximately $15 million through the sale of 8,571,428 shares of common stock and pre-funded warrants at a price of $1.75 per share, a premium to the Jan. 28, 2026 closing price, with aggregate gross proceeds of approximately $15 million; the transaction closed Jan. 30, 2026, and net proceeds, together with existing cash, are expected to be used for general corporate purposes and working capital, with Aegis Capital Corp. serving as exclusive placement agent for the offering.
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About ESS Tech, Inc.
ESS (NYSE: GWH) is the leading manufacturer of long-duration iron flow energy storage solutions. ESS was established in 2011 with a mission to accelerate decarbonization safely and sustainably through longer lasting energy storage. Using easy-to-source iron, salt, and water, ESS iron flow technology enables energy security, reliability and resilience. We build flexible storage solutions that allow our customers to meet increasing energy demand without power disruptions and maximize the value potential of excess energy.
For more information visit www.essinc.com
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