{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-034769","form_type":"8-K","ticker":"GWH","cik":"0001819438","company_name":"ESS Tech, Inc.","filed_at":"2025-07-11T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.117408+00:00","generated_at":"2026-05-18T06:57:26.270296+00:00","sec_items":["1.01","2.01","2.02","2.03","3.02","8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"ESS announces $31M insider-led funding package, preliminary Q2 rev $2.4M, first Energy Base order","bullets":["$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."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-034769","json":"https://secwatch.observer/filing/0001628280-25-034769.json","markdown":"https://secwatch.observer/filing/0001628280-25-034769.md","text":"https://secwatch.observer/filing/0001628280-25-034769.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1819438/000162828025034769/0001628280-25-034769-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1819438/000162828025034769/wk-20250709.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-18T06:57:26.270296+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"afd3c2dc7d84ce5901b9414af67af8353fa256f1","claim":"ESS Tech, Inc. incurred lease obligation of $10,518,419.91 with UOP LLC maturing seven years.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1819438/000162828025034769/0001628280-25-034769-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"lease obligation"},{"label":"Principal","value":"$10,518,419.91"},{"label":"Counterparty","value":"UOP LLC"},{"label":"Maturity","value":"seven years"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}