ESS Tech, Inc. announced a private placement and entered into purchase agreement with Honeywell Ventures to issue 16,491,754 shares at an issue price of $1.667500 for the gross proceeds of $27,499,999.795 on September 21, 2023. The company also issued 10,631,633 shares of Common Stock of common stock warrants and has an exercise price of $1.89 and expires on September 21, 2028. The shares of Common Stock and the warrants were offered and sold pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the ?Securities Act?), and Rule 506 thereunder, in a transaction not involving any public offering.