BRIEF-Ess Inc To Become A Publicly Listed Company Through Merger With Acon S2 Acquisition Corp

Reuters

2021-05-07

May 7 (Reuters) -

* ESS INC TO BECOME A PUBLICLY LISTED COMPANY THROUGH MERGER WITH ACON S2 ACQUISITION CORP

* ESS INC - COMBINED CO EXPECTS TO BE LISTED ON NEW YORK STOCK EXCHANGE UNDER TICKER SYMBOL “GWH.”

* ESS INC - BUSINESS COMBINATION VALUES COMBINED CO AT A $1.072 BILLION PRO FORMA ENTERPRISE VALUE

* ESS INC - BUSINESS COMBINATION IS EXPECTED TO PROVIDE ABOUT $465 MILLION IN NET PROCEEDS TO COMBINED CO

* ESS INC - $250 MILLION FULLY COMMITTED PIPE, ANCHORED BY INVESTORS INCLUDING FIDELITY MANAGEMENT & RESEARCH COMPANY LLC AND KOCH INDUSTRIES

* ESS INC - EXISTING INVESTORS SOFTBANK ENERGY, BREAKTHROUGH ENERGY VENTURES AND BASF INCREASED EQUITY HOLDINGS IN ESS

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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