secwatch.observer — SEC 8-K summary
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Issuer:     ESS Tech, Inc. (GWH)
CIK:        0001819438
Form:       8-K
Filed at:   2025-10-14T23:59:59+00:00
Accession:  0001819438-25-000065
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ESS Tech closes $40M note financing with Yorkville; warrant for 1.05M shares at $9.98
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819438/000181943825000065/0001819438-25-000065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819438/000181943825000065/wk-20251014.htm
  HTML page:      https://secwatch.observer/filing/0001819438-25-000065

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