ESS Tech, Inc. (GWH): debt financing — ESS announces $31M insider-led funding package, preliminary Q2 rev $2.4M, first Energy Base order

ESS Tech, Inc.

$28.5M Yorkville equity facility + $0.9M insider bridge notes + $4.0M equipment sale-leaseback cash.
Preliminary Q2 revenue ~$2.4M (+294% QoQ); net loss ~$10.3M (43% improvement); adj. EBITDA loss ~$7.6M.
Monthly cash burn reduced ~80% in June vs first 5 months average; cash & equivalents ~$0.8M as of June 30.
First Energy Base order for 8 MWh project secured; directors forego cash compensation for 2025.
NYSE delisting risk: avg market cap <$15M; may face suspension/delisting procedures.

item 1.01 item 2.01 item 2.02 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ESS Tech, Inc. incurred lease obligation of $10,518,419.91 with UOP LLC maturing seven years.

Instrument: lease obligation
Principal: $10,518,419.91
Counterparty: UOP LLC
Maturity: seven years
Event: incurrence

Exact text from the filing

On July 10, 2025, the Company entered into a Sale and Leaseback Agreement (the “UOP Sale and Leaseback Agreement”) with UOP LLC (“UOP”), an affiliate of a greater than 5% stockholder of the Company, pursuant to which UOP has agreed to purchase the stack assembly line 1 used to build power module stacks for the Company’s products, including the Energy Base, for a purchase price of $10,518,419.91 (comprised of $4,000,000 in cash and $6,518,419.91 applied to certain pre-payments from UOP), and to lease such equipment back to the Company.

View on SEC.gov

10 debt financings filed in the last 30 days. Browse all debt financings →

ESS Tech, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-25-034769

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.