ESS Tech files Chapter 7, ceases operations; CEO Buckley and CFO Suhadolnik among all employees terminated

ESS Tech, Inc.

• On November 13, 2026 ESS Tech filed a voluntary Chapter 7 petition in the U.S. Bankruptcy Court for the District of Delaware after considering all strategic alternatives; operations ceased.
• A court-appointed Chapter 7 trustee assumes control of assets and liabilities, stripping the board and officers of authority; assets will be liquidated and claims paid per Bankruptcy Code priorities.
• Company states it is unlikely holders of its common stock will receive any payment or distribution; it warns post-petition trading is highly speculative with substantial risk of loss.
• All employees and officers were terminated without cause effective November 13, 2026, including CEO Drew Buckley, CFO Kate Suhadolnik and GC/Chief Strategy Officer Kelly Goodman.
• The audit of fiscal year ended December 31, 2026 was not completed and the Company says it can no longer prepare or file its Form 10-K or any other periodic reports.