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Deutsche Bank Securities Inc., Cowen and Company, and Stifel, Nicolaus & Company served as joint-book running managers for the ACON S2 initial public offering.ĮSS Inc. Fried, Frank, Harris, Shriver & Jacobson LLP served as placement agent’s counsel on the PIPE transaction. Kirkland & Ellis LLP served as legal counsel to ACON S2 with Walkers acting as Cayman Islands counsel to ACON S2.
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served as capital markets advisor and placement agent to ACON S2. Nomura Greentech Capital Advisors, LLC, served as financial advisor and Wilson Sonsini Goodrich & Rosati, P.C. Niggli, Eric Dresselhuys, Craig Evans, Raffi Garabedian, Rich Hossfeld, Shirley Speakman, Kyle Teamey, and Daryl Wilson. The ESS Board of Directors will comprise eight members, including Chairman Michael R. The ESS executive management team will continue to be led by Eric Dresselhuys, Chief Executive Officer Craig Evans, President and Co-founder Julia Song, Chief Technology Officer and Co-founder and Amir Moftakhar, Chief Financial Officer.
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The PIPE is led by institutional investors including Fidelity Management & Research Company LLC, Koch Industries, Tortoise Capital Advisors, SB Energy Global Holdings Ltd, a wholly-owned subsidiary of SoftBank Group Corp., Breakthrough Energy Ventures, BASF Venture Capital, and others.
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EZS INC PRO
The transaction is primarily comprised of $308 million of pro forma net cash to the combined company, including a private investment in public equity (PIPE). We are excited to close this transaction and I look forward to seeing the company play an important part in the world’s transition to a renewable future.” “As a public company, ESS will have the platform to execute against its vision, capitalize on the rapidly growing opportunities in the long-duration energy storage market, and work to establish market leadership. Today’s milestone marks an important transition that will fuel the Company’s next stage of growth,” said Adam Kriger, CEO of ACON S2. “ESS is delivering a pioneering technology to the market today and we are confident it will become the gold standard in the industry. The proceeds from this transaction will enable us to scale our operations to meet the growing global demand for a product that the world needs today to support the transition to clean, renewable energy.” Our differentiated battery technology gives us a first mover advantage in a rapidly expanding market, while simultaneously transforming the value proposition of long-duration storage to support renewable energy generation for the electrical grid. “We are excited to begin our next chapter as the first publicly traded long-duration energy storage company. “This is an incredibly proud moment for the entire ESS team and a milestone for the industry at large,” said Eric Dresselhuys, CEO of ESS. name and its shares and warrants will commence trading today on the New York Stock Exchange (“NYSE”) under the new ticker symbols “GWH” and “GWH.W”, respectively. The combined company retains the ESS Inc. ( NASDAQ: STWO) (“ACON S2”), a publicly traded special purpose acquisition company, today announced the completion of their previously announced business combination (the “Business Combination”), resulting in ESS becoming a publicly listed company. manufacturer of long-duration batteries for commercial and utility-scale energy storage applications, and ACON S2 Acquisition Corp. 11, 2021 (GLOBE NEWSWIRE) - Octo– ESS Inc. Long-duration Storage Companyīegins Trading Today on the NYSE Under the Ticker “GWH”