Eco Wave Power Raises $4 Million via ADS Offering at 10.7% Premium
WAVE•Eco Wave Power priced a registered direct offering of 400,000 ADSs at $10.00 each, raising $4.0 million at a 10.7% premium and attaching warrants for 300,000 ADSs exercisable at $12.00 (32.9% premium). Net proceeds will fund global commercial wave energy deployment and AI-driven infrastructure development.
1. Registered Offering Details
Eco Wave Power priced a registered direct offering of 400,000 American Depositary Shares at $10.00 per ADS, representing a 10.7% premium to the last Nasdaq closing price and generating gross proceeds of $4.0 million before fees.
2. Warrant Terms
The strategic investor received warrants to purchase 300,000 ADSs at an exercise price of $12.00 per ADS (32.9% premium), exercisable immediately and expiring three years after issuance.
3. Use of Proceeds
The company intends to use net proceeds to accelerate its global commercial wave energy deployment and further develop its AI-driven energy layer for digital and industrial infrastructure.
4. Project Pipeline
Eco Wave Power’s development pipeline spans 404.7 MW across planned projects in Portugal, Taiwan, India and existing pilot stations in Israel and at the Port of Los Angeles.
