Elong Power Holding Limited Announces 1 for 80 Share Consolidations

Elong Power (NASDAQ: ELPW) will effect a 1-for-80 share consolidation (reverse split) at the open of Nasdaq on March 10, 2026.

Rhea-AI Summary

Elong Power (NASDAQ: ELPW) will effect a 1-for-80 share consolidation (reverse split) at the open of Nasdaq on March 10, 2026. The board approved the action on March 5, 2026 after shareholder authorization on January 6, 2026.

The Reverse Split reduces issued and outstanding shares from approximately 63 million to about 0.79 million, changes the CUSIP to G3016G129, and proportionally reduces authorized shares. The company says the purpose is to maintain compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii) (minimum $0.10 closing bid).

Positive

• Reverse split ratio of 1-for-80 effective March 10, 2026
• Issued and outstanding shares fall from ~63 million to ~0.79 million
• Objective stated: maintain compliance with Nasdaq minimum $0.10 bid rule

Negative

• Board was authorized to consolidate up to 4000:1 cumulatively over two years
• Fractional shares will be eliminated; shareholders will receive one full share in lieu of fractions

Argus Mar 6 session

-43.89% close to close Open Argus

Details

News Market Reaction – ELPW

On Mar 6, the day this news came out, ELPW closed 43.89% below the previous close.

Data tracked by StockTitan Argus for the Mar 6 session.

Key Figures

Reverse split ratio: 1-for-80 Effective date: March 10, 2026 Pre-split shares: 63 million +5 more

Reverse split ratio

1-for-80

Class A and Class B ordinary shares consolidation

Effective date

March 10, 2026

Reverse split effective at open of Nasdaq

Pre-split shares

63 million

Approximate total issued and outstanding common shares before split

Post-split shares

0.79 million

Approximate total issued and outstanding common shares after split

Pre-split par value

$0.00016

Par value per Class A and Class B share before consolidation

Post-split par value

$0.0128

Par value per Class A and Class B share after consolidation

Minimum bid threshold

$0.10

Nasdaq Listing Rule 5810(c)(3)(A)(iii) requirement cited as objective

Fractional share treatment

1 full share

Fractional shares rounded up to one full Class A or Class B share

Historical Context

5 past events · Latest: Feb 27

5 events

1. Feb 27

   Equity offering close

   24h Move

   -16.9%

   Closed US$7.0M underwritten unit offering with attached common warrants.

2. Feb 26

   Equity offering pricing

   24h Move

   -54.8%

   Priced US$7.0M public offering of 21.7M units with warrants.

3. Feb 03

   Equity offering close

   24h Move

   +61.1%

   Closed US$7.6M unit offering at US$3.16 per unit with warrants.

4. Feb 02

   Equity offering pricing

   24h Move

   -90.4%

   Priced US$7.6M unit offering with resettable common warrants.

5. Dec 23

   Reverse stock split

   24h Move

   -23.1%

   Announced 16-for-1 reverse split to support Nasdaq minimum bid compliance.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

reverse split, class a ordinary shares, class b ordinary shares, cusip

4 terms

reverse split financial

"at a ratio of 1 for 80 shares (the "Reverse Split"), which will take effect"

A reverse split is when a company reduces the number of its outstanding shares by combining several existing shares into one new share, so the price per share rises proportionally while the company’s overall value stays the same. Investors care because it can make a stock appear more respectable or meet exchange rules — like turning many small coins into a single larger bill — but it can also signal financial trouble and often affects trading liquidity and investor perception.

class a ordinary shares financial

"Company's issued and outstanding Class A ordinary shares and Class B ordinary"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

class b ordinary shares financial

"Class A ordinary shares and Class B ordinary shares at a ratio of 1 for 80"

Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.

cusip financial

"symbol "ELPW" but under a new CUSIP number, G3016G129.As a result"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

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BEIJING, March 6, 2026 /PRNewswire/ -- Elong Power Holding Limited (NASDAQ: ELPW) (the "Company"), a provider of high power battery technologies for commercial and specialty alternative energy vehicles and energy storage systems, today announced a share consolidation of the Company's issued and outstanding Class A ordinary shares and Class B ordinary shares at a ratio of 1 for 80 shares (the "Reverse Split"), which will take effect at the open of The Nasdaq Stock Market ("Nasdaq") on March 10, 2026.

On January 6, 2026, the Company held an extraordinary general meeting of the shareholders, and the shareholders approved to implement share consolidations of the Company's Class A ordinary shares and Class B ordinary shares at any one time or multiple times, at the exact consolidation ratio and effective time as the Board may determine from time to time in its absolute discretion, provided that the accumulative consolidation ratio for all such share consolidations shall not be more than 4000:1, and authorized the Board to implement such share consolidations at any time during a period of up to two years of the date of the meeting. On March 5, 2026, the board approved implementation of the Reverse Split at a ratio of 1 for 80 shares.

The objective of the Reverse Split is to enable the Company to maintain compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii), which requires issuers listed on Nasdaq to maintain a closing bid price of greater than $0.10.

Upon the open of trading on March 10, 2026, the Company's Class A ordinary shares will begin trading on a Reverse Split-adjusted basis, under the same symbol "ELPW" but under a new CUSIP number, G3016G129.

As a result of the Reverse Split, each 80 Class A ordinary shares with a par value of $0.00016 will automatically combine and convert into one issued and outstanding Class A ordinary share with a par value of $0.0128. Each 80 Class B ordinary shares with a par value of $0.00016 will automatically combine and convert into one issued and outstanding Class B ordinary share with a par value of $0.0128. The Reverse Split will affect all shareholders uniformly and will not alter any shareholder's percentage ownership interest in the Company, except for minimal changes that may result from the treatment of fractional shares. No action is required by shareholders holding their shares through a brokerage account.

No fractional shares will be issued to any shareholders in connection with the Reverse Split, and each shareholder will be entitled to receive one full Class A ordinary share or Class B ordinary share, as applicable, in the Company in lieu of the fractional share that would have resulted from the Reverse Split.

At the time the share consolidation is effective, the Company's total issued and outstanding common shares will change from approximately 63 million to approximately 0.79 million. The Company's authorized shares will be proportionally reduced.

About Elong Power Holding Limited

Elong Power Holding Limited, a Cayman Islands exempted company, is committed to the research and development, manufacturing, sales and service of high-power lithium-ion batteries for electric vehicles and construction machinery, as well as large-capacity, long-cycle lithium-ion batteries for energy storage systems. Elong Power is led by Ms. Xiaodan Liu, Elong Power's Chairwoman and CEO.

Elong Power has a comprehensive product and technology system that includes battery cells, modules, system integration, and battery management system development, based on high-power lithium-ion batteries and battery system products for long-cycle energy storage devices. Elong Power offers advanced energy applications and full life cycle services. Its product portfolio includes products utilizing lithium manganese oxide and lithium iron phosphate, among others, to meet the needs of high-power applications and energy storage applications in various scenarios.

Forward‑Looking Statements

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the documents filed with the United States Securities and Exchange Commission (the "SEC"). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Elong Power Holding Limited
ir@elongpower.com 

View original content:https://www.prnewswire.com/news-releases/elong-power-holding-limited-announces-1-for-80-share-consolidations-302706636.html

SOURCE Elong Power Holding Limited

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Elong Power (ELPW) announcing on March 10, 2026?

Elong Power is implementing a 1-for-80 reverse share consolidation effective March 10, 2026. According to the company, the change will adjust the share count and CUSIP while keeping the trading symbol ELPW the same on Nasdaq.

How many Elong Power (ELPW) shares will be outstanding after the reverse split?

After the reverse split, Elong Power will have approximately 0.79 million issued and outstanding shares. According to the company, this reflects consolidation from about 63 million pre-split shares to the post-split total.

Why is Elong Power (ELPW) doing a 1-for-80 reverse split?

The company says the Reverse Split aims to maintain compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii) requiring a closing bid greater than $0.10. According to the company, the action is intended to address the listing-price requirement.

Will Elong Power shareholders need to take action for the March 10, 2026 split?

No action is required by shareholders holding shares through a brokerage account. According to the company, the Reverse Split will be applied automatically and affect all shareholders uniformly except for fractional-share treatment.

What happens to fractional shares after Elong Power's reverse split (ELPW)?

No fractional shares will be issued; shareholders entitled to fractions will receive one full Class A or Class B share instead. According to the company, this is the stated treatment and may cause minimal ownership adjustments for some holders.