ESS Tech, Inc. Form 8-K Summary
Business Context and Reporting Period
ESS Tech, Inc. (GWH) filed this Current Report on Form 8-K on June 9, 2026. The filing addresses a regulatory notice received from the New York Stock Exchange (NYSE) regarding the Company's compliance with continued listing standards.
Key Financial Metrics
This filing does not contain comprehensive financial statements, revenue, profit, cash flow, or debt metrics. The only specific financial data point provided is the stock price performance triggering the listing notice:
- 30-Day Average Closing Price: $0.98 per share (as of June 8, 2026).
- Listing Threshold: $1.00 per share.
Material Changes
The Company received a formal Notice of Deficiency from the NYSE under Section 802.01C of the Listed Company Manual. This notice indicates that the average closing price of the Company's common stock fell below $1.00 per share over a consecutive 30-trading-day period. This is a notice of deficiency, not an immediate delisting, and trading continues on the NYSE.
Outlook, Management Commentary, and Risks
Compliance Plan: The Company intends to notify the NYSE of its intent to cure the deficiency within 10 business days. It has a six-month cure period to regain compliance by achieving a closing share price and a 30-day average closing price of at least $1.00 on the last trading day of any calendar month during this period.
Proposed Actions: Management is considering plans to regain compliance, including the potential initiation of a reverse stock split. If shareholder approval is required for such actions, it must be obtained no later than the next annual meeting.
Risks and Uncertainties: The Company explicitly states there can be no assurance that it will be able to regain compliance during the six-month period, any subsequent extension, or at all. Forward-looking statements regarding the ability to regain compliance are subject to risks, including liquidity concerns affecting banking institutions and inherent business risks.
Investor Verification Checklist
- Verify the current trading price of GWH to assess the likelihood of meeting the $1.00 threshold within the six-month cure period.
- Monitor upcoming shareholder meeting schedules for potential votes on a reverse stock split.
- Review the attached press release (Exhibit 99.1) for additional details on the Company's specific remediation strategy.
- Check subsequent filings for updates on the Company's compliance status with the NYSE.