Expion prices USD 9 million private placement of 8% convertible debentures, warrants
XPON•Conversion terms
The Convertible Debentures are set to convert into Series A-1 8% Convertible Preferred Stock, initially convertible at USD 4.25 per share.
Proceeds and future rights
Net proceeds totaled about USD 8.2 million; funds are earmarked for an Eastern Louisiana oil and gas asset acquisition and working capital.
Investors gained rights to buy up to USD 91 million of additional convertible preferred stock in later closings, subject to shareholder approval.
Private placement priced at $9 million
Expion360 priced an unregistered private placement with $9 million of 8% Convertible Debentures, closed Aug. 21, 2026.
The deal included warrants for 2,117,219 common shares at an initial exercise price of USD 4.25 per share.
