ESS Tech Shares Drop After $40M Financing Transaction

Dow Jones

Oct 14

By Chris Wack

ESS Tech shares slid after the company said it closed a $40 million financing transaction with YA II PN, an investment fund managed by Yorkville Advisors Global.

Shares were 22% lower, at $7.09, after two pauses in trading due to volatility.

The Wilsonville, Ore., energy-storage company on Tuesday said the financing provides $30 million of immediate capital, with an additional $10 million available upon execution of an at-the-market sales agreement with Yorkville Securities, an affiliate of Yorkville.

ESS Tech said the transaction is structured as a one-year promissory note, repayable in cash or from a portion of the proceeds raised from equity issuances under its existing or future capital-raising arrangements.

The stock hit its 52-week high of $13.87 on Monday, and has lost 14% over the past 12 months.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

October 14, 2025 10:03 ET (14:03 GMT)

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