ESS Tech launches $75M at-the-market offering; proceeds to repay Yorkville promissory note

ESS Tech, Inc.

Entered ATM agreement with Yorkville, BMO, Canaccord, Needham & Stifel to sell up to $75M of common stock.
Net proceeds first satisfy installment payments within 30 days on Promissory Note to YA II PN (Yorkville affiliate).
After that, 80% of remaining proceeds used to repay Promissory Note in order of maturity; 20% for working capital.
Agents receive 3% commission on gross sales; Canaccord acts as qualified independent underwriter.
Offering under Rule 415; Company not obligated to sell any shares, but agents will use commercially reasonable efforts.

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