ESS Tech launches $3.2M stock offering at $0.50 per share

ESS Tech, Inc. (NYSE: GWH) has entered into definitive agreements for a registered direct offering of 6.4 million shares of common stock at $0.50 per share, according to a company statement.

The offering is expected to generate approximately $3.2 million in gross proceeds before placement agent fees and other expenses. The transaction is expected to close on or about August 21, 2026, subject to customary closing conditions.

In a concurrent private placement, the company will issue warrants to purchase up to 12.8 million shares of common stock at an exercise price of $0.50 per share. The warrants will become exercisable immediately following stockholder approval and will expire five years from the date of issuance.

The company said it intends to use net proceeds from the offering, along with existing cash, for general corporate purposes and working capital.

The registered direct offering is being made under a shelf registration statement on Form S-3 previously declared effective by the U.S. Securities and Exchange Commission on December 11, 2025. Roth Capital Partners is serving as exclusive placement agent for the offering.

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