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[8-K] SES AI Corporation Reports Material Event

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Insights

TL;DR – Hedge fund holds 9.9 % via notes, signalling confidence but creating convertible overhang.

Davidson Kempner’s 906 k-share exposure (almost entirely via convertibles) equals the legal ownership ceiling. For a micro-cap with <5 m shares outstanding, this stake is material, adding a sophisticated investor whose interests align with share appreciation. However, the heavy use of notes foreshadows dilution once the blocker lapses or if the base increases. Investors should track any future 13D moves that could indicate an activist tilt.

TL;DR – Passive filing limits immediate governance impact; monitor for 13D shift.

The Schedule 13G confirms Davidson Kempner is currently passive, mitigating control-change risk. Shared voting rights across entities concentrate influence in Yoseloff, but the 9.9 % cap prevents majority leverage. Should the fund re-file on Schedule 13D, governance dynamics could change rapidly, especially in light of convertible note triggers.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 4, 2025

SES AI CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

    

001-39845

    

88-0641865

(State or other jurisdiction

of incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

SES AI Corporation

35 Cabot Road

Woburn, MA 01801

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (339) 298-8750

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act

Title of each class

    

Trading
Symbol(s)

   

Name of each exchange

on which registered

Class A common stock, $0.0001 par value per share

 

SES

 

The New York Stock Exchange

Warrants, each exercisable for one share of Class A common stock at an exercise price of $11.50 per share

 

SES WS

 

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act  

Item 2.02Results of Operations and Financial Condition.

On August 4, 2025, SES AI Corporation (the “Company”) released a letter to its shareholders, which includes a business update and the Company’s financial results for the fiscal quarter ended June 30, 2025. A copy of the letter to shareholders is furnished herewith as Exhibit 99.1.

On August 4, 2025, the Company issued a press release announcing the release of the letter to shareholders. A copy of the press release is furnished herewith as Exhibit 99.2.

The information contained in this Item 2.02 and in the accompanying Exhibits 99.1 and 99.2 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless expressly incorporated by specific reference in such filing.

Item 9.01Financial Statements and Exhibits.

(d)Exhibits

Exhibit No.

    

Description

99.1

Shareholder Letter dated August 4, 2025

99.2

Press release announcing release of letter to shareholders dated August 4, 2025

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

SES AI Corporation

Date: August 4, 2025

By:

/s/ Jing Nealis

Name:

Jing Nealis

Title:

Chief Financial Officer

SES AI

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