ESS Tech to trade OTC after NYSE delisting notice
ESS Tech, Inc. (NYSE: GWH) moved its common stock to the over-the-counter market on October 5, 2026, following a delisting determination by the New York Stock Exchange. The company reported that NYSE Regulation suspended trading in its shares and commenced delisting proceedings on October 2, 2026, citing a failure to meet minimum market capitalization requirements. Under Section 802.01B of the NYSE Listed Company Manual, listed companies must maintain an average global market capitalization of at least $15 million over a consecutive 30-trading-day period. ESS Tech did not meet this threshold, triggering the immediate suspension of trading and the transition to the OTC platform under the ticker GWHT.
ESS Tech, Inc. (NYSE: GWH) moved its common stock to the over-the-counter market on October 5, 2026, following a delisting determination by the New York Stock Exchange. The company reported that NYSE Regulation suspended trading in its shares and commenced delisting proceedings on October 2, 2026, citing a failure to meet minimum market capitalization requirements. Under Section 802.01B of the NYSE Listed Company Manual, listed companies must maintain an average global market capitalization of at least $15 million over a consecutive 30-trading-day period. ESS Tech did not meet this threshold, triggering the immediate suspension of trading and the transition to the OTC platform under the ticker GWHT.
The company intends to request a review of the NYSE Regulation determination by submitting a written request to a Committee of the Board of Directors of the NYSE within ten business days of receiving the notice. ESS Tech remains an SEC reporting company and continues to file annual, quarterly, and current reports with the Securities and Exchange Commission. Shareholders are not required to take any action regarding the suspension, as shares remain outstanding and are held in existing accounts.
Drew Buckley, Chief Executive Officer of ESS Tech, stated that the company is pursuing strategic transaction opportunities on an expedited basis to address market capitalization issues and enable continued listing. ESS Tech, founded in 2011, provides non-lithium energy storage solutions, including sodium-ion and iron flow battery systems, designed for utilities and critical infrastructure. The company develops technologies for short-, medium-, and long-duration energy storage applications using abundant materials.
The transition to OTC trading introduces risks related to reduced liquidity and potential further declines in trading price. The company's forward-looking statements regarding its ability to regain compliance with NYSE standards, conclude a strategic transaction, or appeal the delisting determination are subject to these risks and uncertainties.
Filed by the newsroom of MarketPR on October 5, 2026. Source: sec.gov. Indicative figures are not investment advice.