secwatch.observer — SEC 8-K summary
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Issuer:     ESS Tech, Inc. (GWH)
CIK:        0001819438
Form:       8-K
Filed at:   2021-10-15T23:59:59+00:00
Accession:  0001193125-21-300138
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 5.02, 3.02, 3.01, 3.03, 5.01, 5.03, 5.05, 5.06, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ESS Tech completes de-SPAC merger with ACON S2; begins trading on NYSE as GWH
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- Merger closed Oct 8; ESS shares converted at 1.4711x; ~135M shares outstanding post-close.
- PIPE financing raised $250M from 25M newly issued shares at $10 each.
- New ESS common and warrants list on NYSE under GWH and GWH.W effective Oct 11.
- Lock-up period of 180 days; early release if 20-day VWAP exceeds $12 within any 30-day window after day 150.
- Up to 15.7M earnout shares contingently issuable based on milestones, representing ~11.6% dilution.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819438/000119312521300138/0001193125-21-300138-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819438/000119312521300138/d231955d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-300138

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer