0000899243-21-044443.txt : 20211112
0000899243-21-044443.hdr.sgml : 20211112
20211112181046
ACCESSION NUMBER: 0000899243-21-044443
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20211109
FILED AS OF DATE: 20211112
DATE AS OF CHANGE: 20211112
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Song Julia
CENTRAL INDEX KEY: 0001884681
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-39525
FILM NUMBER: 211405367
MAIL ADDRESS:
STREET 1: C/O ESS TECH INC
STREET 2: 26440 SW PARKWAY AVE BLDG. 83
CITY: WILSONVILLE
STATE: OR
ZIP: 97070
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Evans Craig E
CENTRAL INDEX KEY: 0001885331
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-39525
FILM NUMBER: 211405368
MAIL ADDRESS:
STREET 1: C/O ESS TECH INC
STREET 2: 26440 SW PARKWAY AVE BLDG. 83
CITY: WILSONVILLE
STATE: OR
ZIP: 97070
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: ESS Tech, Inc.
CENTRAL INDEX KEY: 0001819438
STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
IRS NUMBER: 000000000
STATE OF INCORPORATION: E9
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 26440 SW PARKWAY AVE.
STREET 2: BLDG. 83
CITY: WILSONVILLE
STATE: OR
ZIP: 97070
BUSINESS PHONE: (855) 423-9920
MAIL ADDRESS:
STREET 1: 26440 SW PARKWAY AVE.
STREET 2: BLDG. 83
CITY: WILSONVILLE
STATE: OR
ZIP: 97070
FORMER COMPANY:
FORMER CONFORMED NAME: ACON S2 Acquisition Corp.
DATE OF NAME CHANGE: 20200728
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2021-11-09
0
0001819438
ESS Tech, Inc.
GWH
0001885331
Evans Craig E
C/O ESS TECH, INC.
26440 SW PARKWAY AVE., BLDG. 83
WILSONVILLE
OR
97070
1
1
0
0
President
0001884681
Song Julia
C/O ESS TECH, INC.
26440 SW PARKWAY AVE., BLDG. 83
WILSONVILLE
OR
97070
0
1
0
0
Chief Technology Officer
Common Stock
2021-11-09
4
J
0
11670
10.00
A
4614123
D
Common Stock
2021-11-09
4
J
0
304194
10.00
A
2221405
I
See footnote
Pursuant to an "earnout" provision of the Agreement and Plan of Merger, dated as of May 6, 2021 (the "Merger Agreement"), by and among ACON S2 Acquisition Corp, SCharge Merger Sub, Inc., and ESS Tech, Inc. (the "Issuer"), the reporting person is entitled to receive additional shares of Issuer common stock, for no additional consideration, if the volume weighted average price of Issuer common stock over twenty trading days within any thirty trading day period exceeds certain thresholds (the "Earnout Rights"). Of these Earnout Rights, one half will be issued if the volume weighted average price of the Issuer common stock over twenty trading days within any thirty trading day period is greater than or equal to $12.50, and one half will be issued if the volume weighted average price of the Issuer common stock over twenty trading days within any thirty trading day period is greater than or equal to $15.00. Each of these conditions was met as of November 9, 2021.
Following the closing of the merger, the Issuer determined that aggregate Transaction Expenses (as defined in the Merger Agreement) were lower than had been estimated at the time of closing. Pursuant to the Merger Agreement, this lower amount of Transaction Expenses resulted in an Expense Shortfall (as defined therein), which increased the Adjusted Equity Value (as defined therein).
Effective as of November 9, 2021, the reporting person was entitled to receive 11,577 shares of Issuer common stock pursuant to the Earnout Rights and 93 shares of Issuer common stock pursuant to the Expense Shortfall.
Effective as of November 9, 2021, the reporting person was entitled to receive 301,769 shares of Issuer common stock pursuant to the Earnout Rights and 2,425 shares of Issuer common stock pursuant to the Expense Shortfall.
The shares are held directly by Julia Song. The reporting persons are husband and wife.
/s/ Amir Moftakhar, by power of attorney for Craig E. Evans
2021-11-12
/s/ Amir Moftakhar, by power of attorney for Julia Song
2021-11-12