Elong Power Holding Limited Announces Closing of US$1.38 Million Public Offering

Rhea-AI Summary

Elong Power Holding Limited (Nasdaq: ELPW) closed its previously announced registered public offering of 11,466,666 units on a best-efforts basis at US$0.12 per unit, for total gross proceeds of approximately US$1.38 million before fees and expenses.

Each unit contains one Class A ordinary share and one common warrant to purchase one Class A ordinary share. The warrants are immediately exercisable at US$0.12 per share, have standard anti-dilution adjustments, and expire three years from issuance. According to Elong Power, net proceeds will fund working capital, general corporate purposes, product iteration and development, and expansion of production capacity. Maxim Group acted as sole placement agent, and the offering was conducted under an effective Form F-1 registration statement declared effective on July 28, 2026.

Positive

• US$1.38 million gross proceeds raised for working capital and growth
• Unit deal issues 11,466,666 shares plus equal number of warrants
• Warrants at US$0.12 could provide additional capital if exercised

Negative

• Issuance of 11,466,666 new shares dilutes existing shareholders
• Equal number of warrants may create further dilution upon exercise

Market Context

The tag-specific offering record shows an average 24-hour move of -27.42% across five events. That h...

Analysis

The tag-specific offering record shows an average 24-hour move of -27.42% across five events. That history adds recurring negative-response context; dilution from the new shares and warrants remains the primary risk to monitor.

Key Figures

Offering size: 11,466,666 units Offering price: US$0.12 per Unit Gross proceeds: US$1.38 million +4 more

7 metrics

Offering size 11,466,666 units Public offering

Offering price US$0.12 per Unit Public offering

Gross proceeds US$1.38 million Before offering-related expenses

Warrant exercise price US$0.12 Immediately exercisable Common Warrants

Warrant term Three years From issuance date

Share par value US$0.0128 per share Class A ordinary shares

F-1 effectiveness date July 28, 2026 Registration Statement declared effective

Previous Offering Reports

5 past events · Latest: Jul 13 (Negative)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 13	Offering closing	Negative	-18.6%	Closed 16,500,000 units for approximately US$6.6 million; reaction was -18.59%.
Jul 10	Offering pricing	Negative	-47.0%	Priced 16,500,000 units at US$0.40; reaction was -47%.
May 18	Offering closing	Negative	-3.6%	Closed 4,615,500 units for approximately US$6.0 million; reaction was -3.6%.
May 15	Offering pricing	Negative	-51.0%	Priced 4,615,500 units at US$1.30; reaction was -51.03%.
Feb 27	Offering closing	Negative	-16.9%	Closed 21,700,000 units for approximately US$7.0 million; reaction was -16.9%.

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

Pattern Detected

ELPW's five tag-specific offering events all recorded negative 24-hour price reactions, with an average move of -27.42%.

Key Terms

best-efforts basis, common warrant, anti-dilution adjustments, form f-1, +1 more

5 terms

best-efforts basis financial

"registered public offering conducted on a best-efforts basis"

An agreement made on a best-efforts basis means a party promises to try to achieve a result but does not guarantee it. In finance, it often appears in underwriting, placement, or sales arrangements where the seller or intermediary will work to sell securities or complete a transaction using reasonable effort but won’t be liable if full execution fails. Investors care because it affects how certain a deal’s completion and the flow of shares or capital are.

common warrant financial

"one common warrant to purchase one Class A ordinary share"

A common warrant is a tradable security that gives its holder the right to buy a company’s common shares at a preset price for a limited time. It matters to investors because exercising warrants can dilute existing ownership and create leverage: holders can benefit if the stock rises above the preset price, while holders of original shares face potential reduction in their percentage stake, similar to more tickets being added to a raffle.

anti-dilution adjustments financial

"subject to customary anti-dilution adjustments"

Anti-dilution adjustments are changes made to the ownership stakes or value of an investment to protect investors from having their shares become less valuable if the company issues new shares at a lower price. Imagine buying a piece of a pie, and then the pie is cut into more slices without increasing in size—these adjustments help ensure your slice still retains its worth. They matter to investors because they help preserve the value of their investment when the company’s share price drops.

form f-1 regulatory

"Registration Statement on Form F-1"

A Form F-1 is the document a non-U.S. company files with U.S. regulators when it wants to sell stock or other securities to U.S. investors. It lays out the company’s business, finances, risks and how the offering will work, acting like a product manual and ingredient list so investors can judge what they’re buying. For investors, it’s a key source of verified information used to compare opportunities and assess potential reward and risk.

placement agent financial

"Maxim Group LLC acted as the sole placement agent"

A placement agent is a professional or firm that helps organizations raise money from investors, such as individuals, institutions, or funds. They act like matchmakers, connecting those seeking investments with the right investors and guiding the process to ensure successful funding. For investors, they can provide access to exclusive opportunities and help navigate complex fundraising efforts.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BEIJING, Aug. 4, 2026 /PRNewswire/ -- Elong Power Holding Limited (Nasdaq: ELPW) ("Elong Power" or the "Company"), a comprehensive provider dedicated to the R&D, sales and scenario-oriented system solutions of lithium-ion battery energy storage systems, today announced the closing of its previously announced registered public offering conducted on a best-efforts basis.

The Company issued an aggregate of 11,466,666 units (each, a "Unit") at an offering price of US$0.12 per Unit (the "Offering"). Each Unit consists of one Class A ordinary share of the Company, with a par value of US$0.0128 per share, and one common warrant to purchase one Class A ordinary share of the Company (the "Common Warrant").

Each Common Warrant is immediately exercisable upon issuance at an initial exercise price of US$0.12, which is equal to the public offering price per Unit. The warrant exercise price is subject to customary anti-dilution adjustments in connection with share splits, share combinations, dividend distributions, subsequent equity sale and other corporate restructurings. The warrants will expire on the third anniversary of the issuance date.

The company received total gross proceeds of approximately US$1.38 million, prior to deducting placement agent fees, legal fees, administrative and other offering-related expenses. The Company intends to use the net proceeds from the Offering for working capital requirements, general corporate purposes, as well as further product iteration & development and production capacity expansion.

Maxim Group LLC acted as the sole placement agent for the Offering. Ortoli Rosenstadt LLP acted as U.S. securities counsel to the Company, and Pryor Cashman LLP acted as U.S. securities counsel to the placement agent, in connection with the Offering.

The Company's Registration Statement on Form F-1 (File No. 333-297612) was filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on July 28, 2026. The Offering was made exclusively by means of a prospectus contained within the effective F-1 registration statement, copies of which may be obtained by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, attention: Syndicate Department, or by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com. Copies of the registration statement can be accessed through the SEC website at www.sec.gov.

This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. No offering, sale or solicitation shall be permitted in any jurisdiction where such offering or sale would be unlawful prior to registration, exemption or qualification under the local securities laws of such jurisdiction.

About Elong Power

Elong Power Holding Limited is an exempted company incorporated under the laws of the Cayman Islands. Adhering to its development strategy of "Asset-Light, R&D-Intensive, AI + Energy Storage, Global Scenario Layout", the Company focuses on lithium battery energy storage system core business, with strategic layout covering overseas residential & commercial and industrial (C&I) energy storage, as well as grid-side energy storage in China. The Company is committed to delivering high-reliability, cost-effective and intelligent energy storage system solutions to global customers. Elong Power is chaired and led by Ms. Xiaodan Liu as Chief Executive Officer.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are subject to substantial risks and uncertainties that may cause actual results, performance or achievements to differ materially from those expressed or implied, including without limitation: the Company's ability to complete the Offering in accordance with the expected timeline and terms; satisfaction of closing conditions; the planned use and actual deployment of net proceeds; adverse changes in global market conditions and capital market sentiment; risks relating to the Company's business strategy adjustment and asset optimization; the ability to maintain the Company's Nasdaq listing status; changes in industry policies and regulatory rules; future capital financing needs; and other risk factors disclosed in the Company's periodic filings and subsequent submissions with the SEC, including its Annual Report on Form 20-F. All forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any forward-looking statements except as required by applicable law.

Investor & Media Contact

Elong Power Investor Relations

Email: ir@elongpower.com 

 

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SOURCE Elong Power Holding Limited

FAQ

What did Elong Power (Nasdaq: ELPW) announce on August 4, 2026?

Elong Power announced the closing of a registered public offering raising about US$1.38 million in gross proceeds. According to Elong Power, the deal involved 11,466,666 units, each with one Class A share and one common warrant.

How many shares and warrants were issued in the ELPW US$1.38 million offering?

Elong Power issued 11,466,666 units, each containing one Class A ordinary share and one common warrant. According to Elong Power, each warrant allows purchase of one Class A share, creating the potential for the same number of additional shares.

What is the warrant exercise price and term in Elong Power’s 2026 offering?

Each common warrant is exercisable at an initial price of US$0.12 per share and is immediately exercisable. According to Elong Power, the warrants include customary anti-dilution adjustments and expire on the third anniversary of the issuance date.

How will Elong Power use the proceeds from its US$1.38 million public offering?

Elong Power plans to use the net proceeds for working capital and general corporate purposes. According to Elong Power, funds will also support product iteration and development, and expansion of lithium-ion energy storage production capacity.

Who acted as placement agent for Elong Power’s (ELPW) August 2026 offering?

Maxim Group LLC served as the sole placement agent for Elong Power’s registered public offering. According to Elong Power, the offering was conducted on a best-efforts basis under an effective Form F-1 registration statement with the U.S. SEC.

What was the unit offering price in Elong Power’s Nasdaq: ELPW public offering?

Each unit was sold at an offering price of US$0.12, including one Class A share and one warrant. According to Elong Power, the warrant exercise price was set equal to this public offering price per unit.