eLong Power prices US$6.6 million follow-on offering at US$0.40 per unit
ELPW•Offering terms
eLong Power priced a US$6.6 million best-efforts public offering of 16,500,000 units at US$0.40 per unit.
Each unit includes one Class A ordinary share, or a pre-funded warrant, plus a common warrant to buy one Class A share.
The common warrants are exercisable immediately at US$0.40, subject to anti-dilution adjustments, with a three-year term.
Use of proceeds and closing
Closing is expected July 13, 2026, subject to customary conditions.
Net proceeds are earmarked for working capital, general corporate purposes, product development, and production capacity expansion.
