Pangaea Ventures Fund III Reports 10.1% Stake in ESS Tech
Ticker: GWH-WT · Form: SC 13G/A · Filed: Jan 31, 2024 · CIK: 1819438
| Field | Detail |
|---|---|
| Company | Ess Tech, Inc. (GWH-WT) |
| Form Type | SC 13G/A |
| Filed Date | Jan 31, 2024 |
| Risk Level | low |
| Pages | 10 |
| Reading Time | 12 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, beneficial-ownership
TL;DR
**Pangaea Ventures Fund III still owns 10.1% of ESS Tech, showing continued conviction.**
AI Summary
Pangaea Ventures Fund III, L.P. filed an amended SC 13G/A on January 31, 2024, reporting its beneficial ownership in ESS Tech, Inc. as of December 31, 2023. The filing indicates Pangaea Ventures Fund III, L.P. holds shared voting and dispositive power over 10,529,630 shares of ESS Tech's common stock, representing 10.1% of the company. This matters to investors because it shows a significant institutional holder maintains a substantial stake, which can signal confidence in the company's long-term prospects.
Why It Matters
This filing confirms a major institutional investor, Pangaea Ventures Fund III, L.P., continues to hold a significant 10.1% stake in ESS Tech, Inc., which can influence investor sentiment and potentially provide stability to the stock.
Risk Assessment
Risk Level: low — The filing indicates a stable, significant institutional ownership, which generally reduces volatility and risk for other shareholders.
Analyst Insight
Investors should note the continued significant institutional ownership by Pangaea Ventures Fund III, L.P. in ESS Tech, Inc., which could be a positive signal of long-term confidence, but should also consider other factors before making investment decisions.
Key Numbers
- 10,529,630 shares — Shared Voting Power and Shared Dispositive Power (The total number of shares Pangaea Ventures Fund III, L.P. beneficially owns in ESS Tech, Inc.)
- 10.1% — Percentage of Class (The percentage of ESS Tech, Inc.'s common stock beneficially owned by Pangaea Ventures Fund III, L.P.)
- December 31, 2023 — Date of Event (The date as of which the beneficial ownership information was reported.)
- $0.0001 — Par Value per Share (The par value of ESS Tech, Inc.'s common stock.)
Key Players & Entities
- Pangaea Ventures Fund III, L.P. (company) — the reporting person and beneficial owner of ESS Tech shares
- ESS Tech, Inc. (company) — the subject company whose shares are being reported
- Delaware (company) — place of organization for Pangaea Ventures Fund III, L.P.
- ACON S2 Acquisition Corp. (company) — former name of ESS Tech, Inc.
Forward-Looking Statements
- Pangaea Ventures Fund III, L.P. will maintain a significant stake in ESS Tech, Inc. for the foreseeable future. (Pangaea Ventures Fund III, L.P.) — medium confidence, target: December 31, 2024
FAQ
What is the primary purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 3) by Pangaea Ventures Fund III, L.P. to report its beneficial ownership of common stock in ESS Tech, Inc. as of December 31, 2023, under the Securities Exchange Act of 1934.
How many shares of ESS Tech, Inc. does Pangaea Ventures Fund III, L.P. beneficially own, and what percentage of the company does this represent?
Pangaea Ventures Fund III, L.P. beneficially owns 10,529,630 shares of ESS Tech, Inc. common stock, which represents 10.1% of the class, as stated in the filing.
What type of power does Pangaea Ventures Fund III, L.P. have over these shares?
Pangaea Ventures Fund III, L.P. has shared voting power and shared dispositive power over all 10,529,630 shares, with zero sole voting or sole dispositive power, according to the filing.
When was the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023, as indicated on the cover page of the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(c), as indicated by the checked box on the cover page.
Filing Stats: 3,113 words · 12 min read · ~10 pages · Grade level 7.9 · Accepted 2024-01-31 16:10:20
Key Financial Figures
- $0.0001 — me of Issuer) Common stock, par value $0.0001 per share (Title of Class of Securiti
Filing Documents
- formsc13ga.htm (SC 13G/A) — 229KB
- 0001493152-24-004493.txt ( ) — 231KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: January 31, 2024 PANGAEA VENTURES FUND III, L.P. By: Pangaea Ventures III, LLC, its General Partner /s/ Andrew Haughian Name: Andrew Haughian Title: Director Pangaea Ventures III LLC /s/ Andrew Haughian Name: Andrew Haughian Title: Director Pangaea Partners LLC /s/ Andrew Haughian Name: Andrew Haughian Title: Director Monoc Capital Ltd. /s/ Andrew Haughian Name: Andrew Haughian Title: Director Vicap LLC /s/ Chris Erickson Name: Chris Erickson Title: Director PSee Ventures LLC /s/ Purnesh Seegopaul Name: Purnesh Seegopaul Title: President /s/ Andrew Haughian Andrew Haughian /s/ Chris Erickson Chris Erickson /s/ Purnesh Seegopaul Purnesh Seegopaul CUSIP No. 26916J106 Schedule 13G Page 14 of 14 EXHIBIT INDEX Exhibit No. Description 1 Joint Filing Agreement, dated October 20, 2021 (incorporated by reference to Exhibit 1 of the Reporting Persons’ Schedule 13G filed with the Securities and Exchange Commission on October 21, 2021).