ESS Tech, Inc. (GWH): debt financing — ESS Tech closes $40M note financing with Yorkville; warrant for 1.05M shares at $9.98

ESS Tech, Inc.

Unsecured promissory note of $40M in two tranches: $30M now, $10M upon ATM agreement with Yorkville Securities.
Note bears 3% interest, matures Oct 14, 2026; proceeds for working capital and general corporate purposes.
Issued warrant to Yorkville for up to 1,052,104 common shares at $9.98/share, exercisable for five years.
Financing follows recent 50 MWh Salt River Project announcement; management cites strategic pivot to Energy Base.
Company expects to use capital for execution on existing commitments and signing new long-duration storage contracts.

item 1.01 item 2.03 item 3.02 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 loan of up to $40 million with YA II PN, LTD. at 3% per annum maturing October 14, 2026.

Instrument: loan
Principal: up to $40 million
Counterparty: YA II PN, LTD.
Rate: 3% per annum
Maturity: October 14, 2026
Event: incurrence

Exact text from the filing

On October 14, 2025, ESS Tech, Inc. (the “Company”) entered into an unsecured promissory note with YA II PN, LTD., an investment fund managed by Yorkville Advisors Global, L.P. (“Yorkville”) in the aggregate principal amount of up to $40 million

View on SEC.gov

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

ESS Tech, Inc. issued up to 1,052,104 shares of warrant to YA II PN, LTD., an investment fund managed by Yorkville Advisors Global, L.P. for exercise price of $9.98 per share.

Security: warrant
Shares: up to 1,052,104 shares
Purchaser: YA II PN, LTD., an investment fund managed by Yorkville Advisors Global, L.P.
Consideration: exercise price of $9.98 per share

Exact text from the filing

the Company issued to Yorkville a warrant exercisable for an aggregate number of up to 1,052,104 shares of the Company’s common stock (the “Warrant”). The Warrant has an exercise price of $9.98 per share

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 0001819438-25-000065

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.