ESS says SPAC merger, public listing on course despite $200M shareholder pullout

ESS Inc. said closing of its SPAC merger later this week — and a subsequent public listing — remained on course, despite a big pullout from the deal by the special-purpose acquisition company’s shareholders.

In a filing late Tuesday, ACON S2, the SPAC that aligned with ESS in May, said holders of nearly 20.8 million shares — out of 25 million — had redeemed their shares at $10.

That would remove just shy of $208 million from a merger that, when it was announced in May, was expected to…


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