secwatch.observer — SEC 8-K summary
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Issuer:     ESS Tech, Inc. (GWH)
CIK:        0001819438
Form:       8-K
Filed at:   2023-09-25T23:59:59+00:00
Accession:  0001628280-23-032880
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ESS Tech gets $27.5M equity investment from Honeywell, enters supply and IP deals
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- Honeywell Ventures invested $27.5M for 16.5M common shares and a warrant for 10.6M shares at $1.89.
- UOP (Honeywell) licenses IP to ESS, receives IP warrant for 6.3M shares at $2.90; both warrants expire 2028.
- UOP pre-paid $15M for equipment, triggering an initial performance warrant for 775,760 shares at $1.45.
- Potential future equipment purchases up to $300M by 2030 could generate additional performance warrants.
- Joint development agreement on flow battery tech; registration rights granted to Honeywell Ventures.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819438/000162828023032880/0001628280-23-032880-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819438/000162828023032880/wk-20230925.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-032880

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