ESS Tech effects 1-for-15 reverse stock split to meet NYSE minimum bid price

ESS Tech, Inc.

Reverse split effective Aug 23, 2024 at 4:01 PM ET; common stock opens on post-split basis Aug 26.
Outstanding shares reduced from ~178M to ~11.87M; authorized shares cut from 2B to 1B.
No fractional shares issued; cash paid in lieu based on closing price prior to effective time.
Public warrants adjusted: every 15 warrants now exercisable for 1 share at $172.50 per share.
Purpose: to increase per-share trading price and comply with NYSE continued listing standard.

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