Ajay29
2021-10-13
Good article 👍
Stock jumps as Wilsonville battery maker ESS begins trading on Wall Street, reversing wobbly debut<blockquote>威尔逊维尔电池制造商ESS开始在华尔街交易，扭转了首次亮相的不稳定局面，股价上涨</blockquote>
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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":822190071,"tweetId":"822190071","gmtCreate":1634098138203,"gmtModify":1634098138429,"author":{"id":3582799148579670,"idStr":"3582799148579670","authorId":3582799148579670,"authorIdStr":"3582799148579670","name":"Ajay29","avatar":"https://static.tigerbbs.com/c66b9c3187e633dcff1384f7a0eca0a0","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":12,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>Good article 👍</p></body></html>","htmlText":"<html><head></head><body><p>Good article 👍</p></body></html>","text":"Good article 👍","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/822190071","repostId":1158468432,"repostType":4,"repost":{"id":"1158468432","kind":"news","pubTimestamp":1634092507,"share":"https://www.laohu8.com/m/news/1158468432?lang=zh_CN&edition=full","pubTime":"2021-10-13 10:35","market":"us","language":"en","title":"Stock jumps as Wilsonville battery maker ESS begins trading on Wall Street, reversing wobbly debut<blockquote>威尔逊维尔电池制造商ESS开始在华尔街交易，扭转了首次亮相的不稳定局面，股价上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1158468432","media":"oregonlive","summary":"ESS Tech, a small Wilsonville battery manufacturer, made an emphatic debut on Wall Street as a sudde","content":"<p>ESS Tech, a small Wilsonville battery manufacturer, made an emphatic debut on Wall Street as a sudden spate of investor enthusiasm overcame a difficult week for the company.</p><p><blockquote>威尔逊维尔小型电池制造商ESS Tech在华尔街首次亮相，投资者的热情突如其来，克服了该公司艰难的一周。</blockquote></p><p> Shares jumped 27%, $2.22, to close at $10.43 after trading began Monday on the New York Stock Exchange. The stock trades under the ticker symbol GWH (a nod to “gigawatt hour,” 1 billion watt hours of electricity).</p><p><blockquote>纽约证券交易所周一开始交易后，股价上涨27%，至2.22美元，收于10.43美元。该股票的股票代码为GWH（指“吉瓦时”，即10亿瓦时的电力）。</blockquote></p><p> ESS makes iron-based batteries that it says will enable clean electricity generators, like solar and wind farms, to store their energy. Energy storage for clean power is an essential element of any move away from fossil fuels.</p><p><blockquote>ESS生产铁基电池，据称这将使太阳能和风力发电场等清洁发电机能够储存能量。清洁能源的储能是任何摆脱化石燃料的基本要素。</blockquote></p><p> The clean energy company had planned to raise $465 million by merging with a publicly traded investment fund, known as a special purpose acquisition company, or SPAC. But most of the SPAC’s investors opted out of the deal last week, choosing to cash out their shares instead.</p><p><blockquote>这家清洁能源公司曾计划通过与一家上市投资基金（称为特殊目的收购公司（SPAC））合并来筹集4.65亿美元。但SPAC的大多数投资者上周选择退出这笔交易，而是选择套现他们的股票。</blockquote></p><p> The result was that ESS raised just $308 million in Monday’s deal. That’s still a hefty sum for a small company, which employs only 165, but had suggested investors were glum about ESS’ prospects.</p><p><blockquote>结果是ESS在周一的交易中仅筹集了3.08亿美元。对于一家只有165名员工的小公司来说，这仍然是一笔巨款，但这表明投资者对ESS的前景感到悲观。</blockquote></p><p> Trading started off slow Monday morning, with the stock edging up around 2%. Shares then began a sudden, upward climb around 10:30 a.m. Pacific time.</p><p><blockquote>周一上午交易开始缓慢，该股小幅上涨约2%。随后，太平洋时间上午10:30左右，股价开始突然上涨。</blockquote></p><p> It’s not clear what ignited the stock’s rally, but at 10:12 a.m.CNBC posted a flattering articleabout ESS, with a headline touting it as a “Bill Gates-backed” company. (Gates’ clean energy fund, Breakthrough Energy Ventures, is among ESS’ investors.)</p><p><blockquote>目前尚不清楚是什么引发了该股的上涨，但上午10点12分，CNBC发布了一篇关于ESS的恭维文章，标题将其吹捧为一家“比尔·盖茨支持”的公司。（盖茨的清洁能源基金Breakthrough Energy Ventures是ESS的投资者之一。）</blockquote></p><p> The article described ESS’ battery technology in detail but didn’t note that most of the SPAC investors walked away from the deal last week.</p><p><blockquote>这篇文章详细描述了ESS的电池技术，但没有指出大多数SPAC投资者上周放弃了这笔交易。</blockquote></p><p> Regardless, ESS suddenly has a high profile among clean-energy investors and a rising stock price – which could aid the company if it seeks more capital in the future.</p><p><blockquote>无论如何，ESS突然在清洁能源投资者中获得了很高的知名度，股价也在上涨——如果该公司未来寻求更多资本，这可能会对该公司有所帮助。</blockquote></p><p> “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,” CEO Eric Dresselhuys said in a written statement Monday.</p><p><blockquote>首席执行官Eric Dresselhuys在周一的一份书面声明中表示：“此次交易的收益将使我们能够扩大业务规模，以满足全球对当今世界支持向清洁可再生能源过渡所需的产品不断增长的需求。”</blockquote></p><p> ESS said it plans to spend its new capital to expand manufacturing and its sales operation, for research and to bolster its balance sheet.</p><p><blockquote>ESS表示，计划将新资本用于扩大制造和销售业务、研究和增强资产负债表。</blockquote></p><p> ESS had originally anticipated a $1.1 billion market value; the company said it will be at least a month before it has an accurate valuation following its listing, “because of the arcane rules around a company going public, plus delays in determining an accurate valuation due to timing of” private investment registrations.</p><p><blockquote>ESS最初预计市值为11亿美元；该公司表示，上市后至少需要一个月的时间才能获得准确的估值，“因为围绕公司上市的规则很模糊，而且由于私人投资登记的时机而导致确定准确估值的延迟”。</blockquote></p><p> Over the past two weeks, ESS has announced deals to provide its batteries to two large energy companies — Enel Green Power, in Spain, and SoftBank subsidiary SB Energy. The explosive growth the Wilsonville company has promised to investors, though, is far from assured.</p><p><blockquote>过去两周，ESS宣布了向两家大型能源公司——西班牙Enel Green Power和软银子公司SB Energy提供电池的交易。然而，威尔逊维尔公司向投资者承诺的爆炸性增长远未得到保证。</blockquote></p><p> ESS is still proving out demand for its products. The company forecasts just $2 million in sales this year but projects revenue will leap to $37 million next year, $300 million in 2023 and an astronomical $3.6 billion in 2027.</p><p><blockquote>ESS仍在证明对其产品的需求。该公司预计今年的销售额仅为200万美元，但预计明年收入将跃升至3700万美元，2023年将达到3亿美元，2027年将达到天文数字的36亿美元。</blockquote></p><p> That’s all speculation at this point. Most small companies with soaring ambitions pitch bullish forecasts to venture capitalists or other large, private investors.</p><p><blockquote>目前这都是猜测。大多数雄心勃勃的小公司都会向风险资本家或其他大型私人投资者推销看涨的预测。</blockquote></p><p> But SPACs have given young companies a path to pursue their lofty dreams on the public markets.</p><p><blockquote>但SPAC为年轻公司提供了一条在公开市场上追求崇高梦想的道路。</blockquote></p><p> Here’s how SPACs work: Investors pool their money in a blank-check fund, the SPAC, and obtain a listing on a Wall Street exchange. The SPAC then merges with a private business, providing investment capital and a ready-made stock listing to the business.</p><p><blockquote>SPAC的运作方式如下：投资者将资金集中在空白支票基金SPAC中，并在华尔街交易所上市。然后，SPAC与一家私营企业合并，为该企业提供投资资本和现成的股票上市。</blockquote></p><p> ESS combined with a SPAC called ACON S2 Acquisition Corp. ACON shares were trading around $10 before it announced its deal with ESS last May.</p><p><blockquote>ESS与一家名为ACON S2 Acquisition Corp的SPAC合并。在去年5月宣布与ESS达成交易之前，ACON股价约为10美元。</blockquote></p><p> ACON investors had the option of redeeming their shares at $10 apiece rather than taking shares of ESS. And most ACON shareholders did that last week, taking $208 million out of the transaction and triggering a 16%, one-day drop in ACON’s share price.</p><p><blockquote>ACON投资者可以选择以每股10美元的价格赎回其股票，而不是购买ESS的股票。大多数ACON股东上周都这样做了，从交易中撤资2.08亿美元，导致ACON股价单日下跌16%。</blockquote></p><p> That’s the stock listing ESS inherited Monday, when it completed the transaction.</p><p><blockquote>这是ESS周一完成交易时继承的上市股票。</blockquote></p><p> If the SPAC process was a disappointment, though, the deal held together thanks to $250 million in private backing from investment funds and energy companies. That made up the bulk of the sum ESS raised by going public.</p><p><blockquote>不过，如果SPAC进程令人失望，那么由于投资基金和能源公司提供了2.5亿美元的私人支持，这笔交易得以维持。这占了ESS通过上市筹集的资金的大部分。</blockquote></p><p></p>","source":"lsy1634092569661","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock jumps as Wilsonville battery maker ESS begins trading on Wall Street, reversing wobbly debut<blockquote>威尔逊维尔电池制造商ESS开始在华尔街交易，扭转了首次亮相的不稳定局面，股价上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock jumps as Wilsonville battery maker ESS begins trading on Wall Street, reversing wobbly debut<blockquote>威尔逊维尔电池制造商ESS开始在华尔街交易，扭转了首次亮相的不稳定局面，股价上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">oregonlive</strong><span class=\"h-time small\">2021-10-13 10:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>ESS Tech, a small Wilsonville battery manufacturer, made an emphatic debut on Wall Street as a sudden spate of investor enthusiasm overcame a difficult week for the company.</p><p><blockquote>威尔逊维尔小型电池制造商ESS Tech在华尔街首次亮相，投资者的热情突如其来，克服了该公司艰难的一周。</blockquote></p><p> Shares jumped 27%, $2.22, to close at $10.43 after trading began Monday on the New York Stock Exchange. The stock trades under the ticker symbol GWH (a nod to “gigawatt hour,” 1 billion watt hours of electricity).</p><p><blockquote>纽约证券交易所周一开始交易后，股价上涨27%，至2.22美元，收于10.43美元。该股票的股票代码为GWH（指“吉瓦时”，即10亿瓦时的电力）。</blockquote></p><p> ESS makes iron-based batteries that it says will enable clean electricity generators, like solar and wind farms, to store their energy. Energy storage for clean power is an essential element of any move away from fossil fuels.</p><p><blockquote>ESS生产铁基电池，据称这将使太阳能和风力发电场等清洁发电机能够储存能量。清洁能源的储能是任何摆脱化石燃料的基本要素。</blockquote></p><p> The clean energy company had planned to raise $465 million by merging with a publicly traded investment fund, known as a special purpose acquisition company, or SPAC. But most of the SPAC’s investors opted out of the deal last week, choosing to cash out their shares instead.</p><p><blockquote>这家清洁能源公司曾计划通过与一家上市投资基金（称为特殊目的收购公司（SPAC））合并来筹集4.65亿美元。但SPAC的大多数投资者上周选择退出这笔交易，而是选择套现他们的股票。</blockquote></p><p> The result was that ESS raised just $308 million in Monday’s deal. That’s still a hefty sum for a small company, which employs only 165, but had suggested investors were glum about ESS’ prospects.</p><p><blockquote>结果是ESS在周一的交易中仅筹集了3.08亿美元。对于一家只有165名员工的小公司来说，这仍然是一笔巨款，但这表明投资者对ESS的前景感到悲观。</blockquote></p><p> Trading started off slow Monday morning, with the stock edging up around 2%. Shares then began a sudden, upward climb around 10:30 a.m. Pacific time.</p><p><blockquote>周一上午交易开始缓慢，该股小幅上涨约2%。随后，太平洋时间上午10:30左右，股价开始突然上涨。</blockquote></p><p> It’s not clear what ignited the stock’s rally, but at 10:12 a.m.CNBC posted a flattering articleabout ESS, with a headline touting it as a “Bill Gates-backed” company. (Gates’ clean energy fund, Breakthrough Energy Ventures, is among ESS’ investors.)</p><p><blockquote>目前尚不清楚是什么引发了该股的上涨，但上午10点12分，CNBC发布了一篇关于ESS的恭维文章，标题将其吹捧为一家“比尔·盖茨支持”的公司。（盖茨的清洁能源基金Breakthrough Energy Ventures是ESS的投资者之一。）</blockquote></p><p> The article described ESS’ battery technology in detail but didn’t note that most of the SPAC investors walked away from the deal last week.</p><p><blockquote>这篇文章详细描述了ESS的电池技术，但没有指出大多数SPAC投资者上周放弃了这笔交易。</blockquote></p><p> Regardless, ESS suddenly has a high profile among clean-energy investors and a rising stock price – which could aid the company if it seeks more capital in the future.</p><p><blockquote>无论如何，ESS突然在清洁能源投资者中获得了很高的知名度，股价也在上涨——如果该公司未来寻求更多资本，这可能会对该公司有所帮助。</blockquote></p><p> “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,” CEO Eric Dresselhuys said in a written statement Monday.</p><p><blockquote>首席执行官Eric Dresselhuys在周一的一份书面声明中表示：“此次交易的收益将使我们能够扩大业务规模，以满足全球对当今世界支持向清洁可再生能源过渡所需的产品不断增长的需求。”</blockquote></p><p> ESS said it plans to spend its new capital to expand manufacturing and its sales operation, for research and to bolster its balance sheet.</p><p><blockquote>ESS表示，计划将新资本用于扩大制造和销售业务、研究和增强资产负债表。</blockquote></p><p> ESS had originally anticipated a $1.1 billion market value; the company said it will be at least a month before it has an accurate valuation following its listing, “because of the arcane rules around a company going public, plus delays in determining an accurate valuation due to timing of” private investment registrations.</p><p><blockquote>ESS最初预计市值为11亿美元；该公司表示，上市后至少需要一个月的时间才能获得准确的估值，“因为围绕公司上市的规则很模糊，而且由于私人投资登记的时机而导致确定准确估值的延迟”。</blockquote></p><p> Over the past two weeks, ESS has announced deals to provide its batteries to two large energy companies — Enel Green Power, in Spain, and SoftBank subsidiary SB Energy. The explosive growth the Wilsonville company has promised to investors, though, is far from assured.</p><p><blockquote>过去两周，ESS宣布了向两家大型能源公司——西班牙Enel Green Power和软银子公司SB Energy提供电池的交易。然而，威尔逊维尔公司向投资者承诺的爆炸性增长远未得到保证。</blockquote></p><p> ESS is still proving out demand for its products. The company forecasts just $2 million in sales this year but projects revenue will leap to $37 million next year, $300 million in 2023 and an astronomical $3.6 billion in 2027.</p><p><blockquote>ESS仍在证明对其产品的需求。该公司预计今年的销售额仅为200万美元，但预计明年收入将跃升至3700万美元，2023年将达到3亿美元，2027年将达到天文数字的36亿美元。</blockquote></p><p> That’s all speculation at this point. Most small companies with soaring ambitions pitch bullish forecasts to venture capitalists or other large, private investors.</p><p><blockquote>目前这都是猜测。大多数雄心勃勃的小公司都会向风险资本家或其他大型私人投资者推销看涨的预测。</blockquote></p><p> But SPACs have given young companies a path to pursue their lofty dreams on the public markets.</p><p><blockquote>但SPAC为年轻公司提供了一条在公开市场上追求崇高梦想的道路。</blockquote></p><p> Here’s how SPACs work: Investors pool their money in a blank-check fund, the SPAC, and obtain a listing on a Wall Street exchange. The SPAC then merges with a private business, providing investment capital and a ready-made stock listing to the business.</p><p><blockquote>SPAC的运作方式如下：投资者将资金集中在空白支票基金SPAC中，并在华尔街交易所上市。然后，SPAC与一家私营企业合并，为该企业提供投资资本和现成的股票上市。</blockquote></p><p> ESS combined with a SPAC called ACON S2 Acquisition Corp. ACON shares were trading around $10 before it announced its deal with ESS last May.</p><p><blockquote>ESS与一家名为ACON S2 Acquisition Corp的SPAC合并。在去年5月宣布与ESS达成交易之前，ACON股价约为10美元。</blockquote></p><p> ACON investors had the option of redeeming their shares at $10 apiece rather than taking shares of ESS. And most ACON shareholders did that last week, taking $208 million out of the transaction and triggering a 16%, one-day drop in ACON’s share price.</p><p><blockquote>ACON投资者可以选择以每股10美元的价格赎回其股票，而不是购买ESS的股票。大多数ACON股东上周都这样做了，从交易中撤资2.08亿美元，导致ACON股价单日下跌16%。</blockquote></p><p> That’s the stock listing ESS inherited Monday, when it completed the transaction.</p><p><blockquote>这是ESS周一完成交易时继承的上市股票。</blockquote></p><p> If the SPAC process was a disappointment, though, the deal held together thanks to $250 million in private backing from investment funds and energy companies. That made up the bulk of the sum ESS raised by going public.</p><p><blockquote>不过，如果SPAC进程令人失望，那么由于投资基金和能源公司提供了2.5亿美元的私人支持，这笔交易得以维持。这占了ESS通过上市筹集的资金的大部分。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.oregonlive.com/silicon-forest/2021/10/wilsonville-battery-maker-ess-begins-trading-on-wall-street-but-most-investors-opted-out.html\">oregonlive</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GWH":"ESS Tech Inc."},"source_url":"https://www.oregonlive.com/silicon-forest/2021/10/wilsonville-battery-maker-ess-begins-trading-on-wall-street-but-most-investors-opted-out.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158468432","content_text":"ESS Tech, a small Wilsonville battery manufacturer, made an emphatic debut on Wall Street as a sudden spate of investor enthusiasm overcame a difficult week for the company.\nShares jumped 27%, $2.22, to close at $10.43 after trading began Monday on the New York Stock Exchange. The stock trades under the ticker symbol GWH (a nod to “gigawatt hour,” 1 billion watt hours of electricity).\nESS makes iron-based batteries that it says will enable clean electricity generators, like solar and wind farms, to store their energy. Energy storage for clean power is an essential element of any move away from fossil fuels.\nThe clean energy company had planned to raise $465 million by merging with a publicly traded investment fund, known as a special purpose acquisition company, or SPAC. But most of the SPAC’s investors opted out of the deal last week, choosing to cash out their shares instead.\nThe result was that ESS raised just $308 million in Monday’s deal. That’s still a hefty sum for a small company, which employs only 165, but had suggested investors were glum about ESS’ prospects.\nTrading started off slow Monday morning, with the stock edging up around 2%. Shares then began a sudden, upward climb around 10:30 a.m. Pacific time.\nIt’s not clear what ignited the stock’s rally, but at 10:12 a.m.CNBC posted a flattering articleabout ESS, with a headline touting it as a “Bill Gates-backed” company. (Gates’ clean energy fund, Breakthrough Energy Ventures, is among ESS’ investors.)\nThe article described ESS’ battery technology in detail but didn’t note that most of the SPAC investors walked away from the deal last week.\nRegardless, ESS suddenly has a high profile among clean-energy investors and a rising stock price – which could aid the company if it seeks more capital in the future.\n“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,” CEO Eric Dresselhuys said in a written statement Monday.\nESS said it plans to spend its new capital to expand manufacturing and its sales operation, for research and to bolster its balance sheet.\nESS had originally anticipated a $1.1 billion market value; the company said it will be at least a month before it has an accurate valuation following its listing, “because of the arcane rules around a company going public, plus delays in determining an accurate valuation due to timing of” private investment registrations.\nOver the past two weeks, ESS has announced deals to provide its batteries to two large energy companies — Enel Green Power, in Spain, and SoftBank subsidiary SB Energy. The explosive growth the Wilsonville company has promised to investors, though, is far from assured.\nESS is still proving out demand for its products. The company forecasts just $2 million in sales this year but projects revenue will leap to $37 million next year, $300 million in 2023 and an astronomical $3.6 billion in 2027.\nThat’s all speculation at this point. Most small companies with soaring ambitions pitch bullish forecasts to venture capitalists or other large, private investors.\nBut SPACs have given young companies a path to pursue their lofty dreams on the public markets.\nHere’s how SPACs work: Investors pool their money in a blank-check fund, the SPAC, and obtain a listing on a Wall Street exchange. The SPAC then merges with a private business, providing investment capital and a ready-made stock listing to the business.\nESS combined with a SPAC called ACON S2 Acquisition Corp. ACON shares were trading around $10 before it announced its deal with ESS last May.\nACON investors had the option of redeeming their shares at $10 apiece rather than taking shares of ESS. And most ACON shareholders did that last week, taking $208 million out of the transaction and triggering a 16%, one-day drop in ACON’s share price.\nThat’s the stock listing ESS inherited Monday, when it completed the transaction.\nIf the SPAC process was a disappointment, though, the deal held together thanks to $250 million in private backing from investment funds and energy companies. That made up the bulk of the sum ESS raised by going public.","news_type":1,"symbols_score_info":{"GWH":0.9}},"isVote":1,"tweetType":1,"viewCount":2144,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":13,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/822190071"}
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