ESS Tech, Inc. Receives Continued Listing Standard Notice from NYSE
Key Points from the Report
- ESS Tech, Inc. (NYSE: GWH) received a written notice from the New York Stock Exchange (NYSE) on June 9, 2026, indicating non-compliance with the continued listing standard regarding minimum share price.
- The average closing price of ESS Tech’s common stock was below \$1.00 per share for a consecutive 30 trading-day period, specifically at \$0.98 as of June 8, 2026.
- The notice is a notice of deficiency, not an immediate delisting. Trading of the company’s common stock on the NYSE is currently unaffected.
- ESS Tech has 10 business days to notify NYSE of its intent to cure the deficiency and regain compliance.
- The company has up to six months to regain compliance by achieving a closing share price of at least \$1.00 and a 30 trading-day average closing share price of at least \$1.00.
- If shareholder action (such as a reverse stock split) is needed, it must be approved no later than the next annual meeting and implemented promptly thereafter.
- ESS Tech is actively considering options to remedy the non-compliance, including a potential reverse stock split.
- The company issued a press release regarding the NYSE notice and its response.
Detailed Analysis and Context
On June 9, 2026, ESS Tech, Inc., a manufacturer of sustainable energy storage solutions, received a formal notification from the NYSE regarding a deficiency in its minimum share price requirement as outlined in Section 802.01C of the NYSE Listed Company Manual. According to the rule, listed companies must maintain an average closing price of at least \$1.00 per share over 30 consecutive trading days to avoid delisting procedures.
As of June 8, 2026, ESS Tech’s common stock had a 30 trading-day average closing price of \$0.98. This triggered the NYSE notice of deficiency. The company clarified in both its 8-K filing and a press release that this is not a delisting notice, and its shares will continue trading while it addresses the deficiency.
ESS Tech intends to notify the NYSE of its plan to cure the deficiency within the required 10 business days. The company is granted a six-month window to regain compliance. Compliance can be achieved if, on the last trading day of any calendar month during this period, the closing share price is at least \$1.00 and the 30-day average is also at least \$1.00.
If the company chooses to implement a remedy that requires shareholder approval (such as a reverse stock split), it must do so by the next annual meeting. The company’s board and management are actively monitoring the situation and considering all available options, including a reverse stock split, to restore compliance.
The company’s press release and disclosure emphasize that there is no guarantee it will succeed within the six-month period and warn investors of the risks, including the possibility of delisting if compliance is not achieved. The company also highlights that all forward-looking statements are subject to risks and uncertainties, referencing its most recent annual report and other SEC filings for detailed risk factors.
ESS Tech’s investor relations contact is Chris Tyson, Executive Vice President at MZ Group, available at (949) 491-8235 or [email protected].
