Elong Power Holding Limited Announces Closing of US$6.0 Million Public Offering

Rhea-AI Summary

Elong Power (Nasdaq: ELPW) closed a registered public offering on a best-efforts basis, raising approximately US$6.0 million in gross proceeds.

The company issued 4,615,500 Units at US$1.30 each, with every Unit containing one Class A ordinary share (or pre-funded warrant) and one common warrant, exercisable immediately at US$1.30 for three years.

According to Elong Power, net proceeds will support working capital, general corporate purposes, product iteration and development, and production capacity expansion.

Positive

• Public offering raises approximately US$6.0 million in gross proceeds
• Issue of 4,615,500 Units at a defined price of US$1.30 each
• Common warrants exercisable at US$1.30 may provide additional future capital
• Proceeds allocated to working capital, R&D iteration and capacity expansion

Negative

• Issuance of 4,615,500 new Units increases share count and dilutes existing holders
• Common warrants with a three-year term allow further share issuance over time

News Market Reaction – ELPW

-3.60%

32 alerts

-3.60% Session close to close

+41.8% Peak Tracked

-6.3% Trough Tracked

$1.84M Market Cap

0.1x Rel. Volume

In the May 19 session, ELPW declined 3.60%, reflecting a moderate negative market reaction. Argus tracked a peak move of +41.8% during that session. Argus tracked a trough of -6.3% from its starting point during tracking. Our momentum scanner triggered 32 alerts that day, indicating elevated trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement confirms the closing of a US$6.0 million unit offering at US$1.30 per Unit, each w...

Analysis

This announcement confirms the closing of a US$6.0 million unit offering at US$1.30 per Unit, each with a share (or pre-funded warrant) plus a three-year common warrant. It follows several similar offerings and a recent share consolidation, underscoring reliance on equity financing. Investors may track future capital-raising frequency, additional warrant exercises, and how new funds affect losses reported in the 20-F, as well as ongoing Nasdaq listing compliance developments.

Key Figures

Units issued: 4,615,500 Units Offering price: US$1.30 per Unit Gross proceeds: US$6.0 million +5 more

8 metrics

Units issued 4,615,500 Units Current public offering

Offering price US$1.30 per Unit Current public offering

Gross proceeds US$6.0 million Current public offering, before expenses

Warrant exercise price US$1.30 Common Warrants in current offering

Warrant term 3 years Common Warrants expire third anniversary

Par value US$0.0128 per share Class A ordinary shares in Units

Registered Units (F-1) 1,431,127 Units Assumed price F-1 registration

Net loss 2024 $30.1 million Year ended December 31, 2024

Previous Offering Reports

5 past events · Latest: May 15 (Negative)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 15	Equity offering pricing	Negative	-51.0%	Pricing of US$6.0 million unit offering with attached common warrants.
Feb 27	Equity offering closing	Negative	-16.9%	Closing of US$7.0 million underwritten unit offering with warrants.
Feb 26	Equity offering pricing	Negative	-54.8%	Pricing of US$7.0 million unit offering ahead of Feb 27 closing.
Feb 03	Equity offering closing	Negative	+61.1%	Closing of US$7.6 million unit offering with zero-cash exercise option.
Feb 02	Equity offering pricing	Negative	-90.4%	Pricing of US$7.6 million unit offering with post-closing warrant resets.

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

Pattern Detected

Recent equity offerings for ELPW have typically coincided with sharp negative price reactions, with one notable positive outlier following a prior closing.

Recent Company History

Over recent months, Elong Power has repeatedly used unit offerings with attached warrants to raise capital, including $7.6M, $7.0M, and $6.0M deals. These financings often preceded sizable price drops, such as -90.39% and -54.81%, though one closing produced a 61.09% gain. Today’s closing of the $6.0M offering follows the May pricing event that already saw a -51.03% move, extending an established financing-driven pattern.

Key Terms

registered public offering, pre-funded warrant, common warrant, anti-dilution adjustments, +4 more

8 terms

registered public offering financial

"announced the closing of its previously announced registered public offering"

A registered public offering is when a company files required documents with regulators to sell new shares or bonds to the general public, providing standardized financial and business information for transparency. For investors, it matters because it creates an opportunity to buy newly issued securities while often increasing market liquidity, but it can also dilute existing ownership and affect share price as supply and company funding needs change—think of a bakery baking extra loaves that can satisfy more customers but slightly reduces each owner's slice of the original batch.

pre-funded warrant financial

"one Class A ordinary share of the Company (or pre-funded warrant in lieu thereof)"

A pre-funded warrant is a financial instrument that gives the holder the right to buy shares of a company's stock at a set price, with most of the purchase cost already paid upfront. It functions like a nearly fully paid option, allowing investors to secure shares quickly while minimizing the amount of additional money they need to invest later. This helps investors gain ownership rights efficiently, often used to avoid certain regulatory restrictions or to prepare for future stock purchases.

common warrant financial

"and 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

"The warrant exercise price is 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.

placement agent financial

"Maxim Group LLC acted as the sole placement agent for the Offering."

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.

prospectus regulatory

"The Offering was made exclusively by means of a prospectus contained within"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

registration statement on Form F-1 regulatory

"The Company's Registration Statement on Form F-1 (File No. 333-295783)"

A registration statement on Form F-1 is a legal document companies file with regulators to offer their shares to investors in a foreign country or market. It provides essential information about the company's business, finances, and risks, helping investors make informed decisions about whether to buy its stock. This process ensures transparency and protects investors by making company details publicly available before trading begins.

securities regulatory

"does not constitute an offer to sell or a solicitation of an offer to buy any securities."

Securities are financial investments that represent a claim on part of a company's assets or earnings, such as stocks or bonds. They are like certificates proving ownership or debt, which can be bought and sold in financial markets. Securities matter to investors because they offer opportunities to grow wealth, earn income, or manage risk through different types of investments.

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

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BEIJING, May 18, 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 4,615,500 units (each, a "Unit") at an offering price of US$1.30 per Unit (the "Offering"). Each Unit consists of one Class A ordinary share of the Company (or pre-funded warrant in lieu thereof), 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$1.30, 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$6.0 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. 333-295783) was filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on May 14, 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

View original content:https://www.prnewswire.com/news-releases/elong-power-holding-limited-announces-closing-of-us6-0-million-public-offering-302775153.html

SOURCE Elong Power Holding Limited

FAQ

What did Elong Power (Nasdaq: ELPW) announce about its US$6.0 million public offering on May 18, 2026?

Elong Power announced the closing of a registered public offering raising about US$6.0 million in gross proceeds. According to Elong Power, the best-efforts deal consisted of 4,615,500 Units, each containing one Class A ordinary share (or pre-funded warrant) and one common warrant.

How many units did Elong Power (ELPW) issue and at what price in the May 2026 offering?

Elong Power issued 4,615,500 Units at an offering price of US$1.30 per Unit. According to Elong Power, each Unit includes one Class A ordinary share (or pre-funded warrant) plus one common warrant to purchase an additional Class A ordinary share at US$1.30.

What are the warrant terms in Elong Power’s May 2026 ELPW public offering?

Each Unit includes one common warrant exercisable immediately at US$1.30 per share for three years. According to Elong Power, the warrant exercise price has customary anti-dilution adjustments for share splits, combinations, dividends, subsequent equity sales and other corporate restructurings.

How will Elong Power (ELPW) use the proceeds from its US$6.0 million public offering?

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

Was Elong Power’s May 2026 ELPW offering registered with the SEC?

Yes, the offering was made under an effective SEC registration statement on Form F-1. According to Elong Power, the Form F-1 (File No. 333-295783) was declared effective on May 14, 2026, and the offering was conducted exclusively by means of the related prospectus.

What does the May 2026 Elong Power (ELPW) offering mean for existing shareholders?

The offering increases the company’s capital base but also adds new shares and warrants. According to Elong Power, 4,615,500 Units were issued, and each Unit’s common warrant is exercisable for three years, allowing potential further share issuance over time.