secwatch.observer — SEC 8-K summary
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Issuer:     ESS Tech, Inc. (GWH)
CIK:        0001819438
Form:       8-K
Filed at:   2024-08-23T23:59:59+00:00
Accession:  0001628280-24-038349
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 3.03, 5.03, 5.07, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819438/000162828024038349/0001628280-24-038349-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819438/000162828024038349/wk-20240823.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-038349

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