Elong Power Prices 16.5M Units at US$0.40 for US$6.6M Financing
ELPW•Elong Power Holding Limited priced a 16.5 million unit offering at US$0.40 each, raising about US$6.6 million. Each unit grants one Class A share or pre-funded warrant plus a warrant exercisable at US$0.40 through July 2029, with proceeds funding working capital, R&D and expansion.
1. Offering Details
Elong Power Holding Limited priced 16.5 million units at US$0.40 per unit on a best efforts basis, generating approximately US$6.6 million in gross proceeds before fees and expenses. The offering is slated to close on July 13, 2026, pending satisfaction of customary closing conditions.
2. Warrant Terms
Each unit consists of one Class A ordinary share (or pre-funded warrant in lieu) and one common warrant exercisable immediately at US$0.40 per share. Warrants will expire three years after issuance in July 2029 and include customary anti-dilution adjustments for share splits, combinations and distributions.
3. Use of Proceeds
Net proceeds are earmarked for working capital requirements, general corporate purposes, accelerated product iteration and development, and expansion of production capacity in the lithium-ion battery energy storage systems business segment.
