Elong Power Holding Limited Announces Closing of US$6.6 Million Public Offering

Elong Power Holding Limited (Nasdaq: ELPW) closed its previously announced best-efforts registered public offering, issuing 16,500,000 units at US$0.40 per unit for approximately US$6.6 million in gross proceeds.

Rhea-AI Summary

Elong Power Holding Limited (Nasdaq: ELPW) closed its previously announced best-efforts registered public offering, issuing 16,500,000 units at US$0.40 per unit for approximately US$6.6 million in gross proceeds. Each unit includes one Class A ordinary share (or pre-funded warrant) and one common warrant.

Each common warrant is immediately exercisable at US$0.40, subject to customary anti-dilution adjustments, and expires three years from issuance. According to Elong Power, net proceeds will fund working capital, general corporate purposes, product iteration and development, and production capacity expansion. Maxim Group acted as sole placement agent.

Positive

• US$6.6 million gross proceeds raised in public unit offering
• Issued 16,500,000 units with attached warrants, enhancing potential future capital inflow
• Net proceeds earmarked for working capital and capacity and product development investments

Negative

• Issuance of 16,500,000 new units introduces equity dilution for existing shareholders
• Common warrants exercisable at US$0.40 may create additional future dilution over three years

News Explained

The completed financing adds an issued share component and warrant rights that can expand the share count and dilute existing ownership.

On July 13, 2026, Elong Power Holding Limited announced that its registered public offering had closed. The company received approximately US$6.6 million in gross proceeds and issued 16,500,000 units. Each unit contains one Class A ordinary share or a pre-funded warrant in lieu of the share, plus one common warrant, creating securities that can increase the share count and reduce an existing holder’s percentage ownership if the relevant instruments become shares.

A pre-funded warrant is sold at nearly the full share price with a nominal exercise price and converts to shares when exercised; the common warrants are immediately exercisable at US$0.40 and expire on the third anniversary of issuance. Net proceeds are intended for working capital, general corporate purposes, product iteration and development, and production-capacity expansion.

The supplied platform history records offering milestones on May 15, 2026, May 18, 2026, and July 10, 2026, so this closing follows multiple recent offering events.

Sources and calculations

• Elong Power Holding Limited Announces Closing of US$6.6 Million Public Offering (2026-07-13)
• Dilution (undated)
• Pre-funded warrant (undated)
• Elong Power Holding Limited Announces Pricing of US$6.6 Million Public Offering (2026-07-10)
• Elong Power Holding Limited Announces Closing of US$6.0 Million Public Offering (2026-05-18)
• Elong Power Holding Limited Announces Pricing of US$6.0 Million Public Offering (2026-05-15)

Argus Jul 14 session 21 alerts

-18.59% close to close 0.6x rel. volume Open Argus

Details

Market move: ELPW -18.59% in the Jul 14 session. US$6.6 million public offering closing

-11.1% Trough in 11 hr 5 min

$943,582 Market Cap

On Jul 14, the first trading day after this news, ELPW closed 18.59% below the previous close. Argus tracked a trough of -11.1% from its starting point during tracking. Our momentum scanner recorded 21 alerts for this stock that day.

Data tracked by StockTitan Argus for the Jul 14 session.

Market Context

On Jul 14, the first trading day after this news, the stock closed 18.6% below the previous close. A...

Analysis

On Jul 14, the first trading day after this news, the stock closed 18.6% below the previous close. A sharp selloff after this closing would be consistent with prior offerings, which averaged around -34.67% moves and often saw heavy pressure. With moderate short positioning indicated, further downside could be exacerbated if warrant overhang and dilution concerns intensify.

Key Figures

Units issued: 16,500,000 units Offering price: US$0.40 per Unit Par value: US$0.0128 per share +4 more

Units issued

16,500,000 units

Best-efforts public offering

Offering price

US$0.40 per Unit

Public offering terms

Par value

US$0.0128 per share

Class A ordinary share

Warrant exercise price

US$0.40 per share

Common Warrant, immediately exercisable

Gross proceeds

US$6.6 million

Before fees and expenses

Warrant term

3 years

Common Warrants expire on third anniversary

Form F-1 effective date

July 9, 2026

SEC effectiveness for offering registration

Previous Offering Reports

5 past events · Latest: Jul 10

Same Type 5 events

1. Jul 10

   Offering pricing

   24h Move

   -47.0%

   Priced US$6.6M best-efforts unit offering with attached common warrants.

2. May 18

   Offering closing

   24h Move

   -3.6%

   Closed US$6.0M public unit offering with immediately exercisable warrants.

3. May 15

   Offering pricing

   24h Move

   -51.0%

   Priced US$6.0M unit offering ahead of May 18 closing for capital raise.

4. Feb 27

   Offering closing

   24h Move

   -16.9%

   Closed US$7.0M underwritten unit deal including common warrants and overallotment.

5. Feb 26

   Offering pricing

   24h Move

   -54.8%

   Priced US$7.0M underwritten unit offering with three-year common warrants.

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

Key Terms

pre-funded warrant, common warrant, anti-dilution adjustments, registration statement on form f-1

4 terms

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 of the Company"

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 in connection with share splits"

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.

registration statement on form f-1 regulatory

"The Company's Registration Statement on Form F-1 (File No. 333-297290) was filed"

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.

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

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BEIJING, July 13, 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 16,500,000 units (each, a "Unit") at an offering price of US$0.40 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$0.40, 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$6.6 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. 333-297290) was filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on July 9, 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-us6-6-million-public-offering-302824111.html

SOURCE Elong Power Holding Limited

FAQ

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

What did Elong Power (NASDAQ: ELPW) announce on July 13, 2026?

Elong Power announced the closing of a registered public offering raising about US$6.6 million in gross proceeds. According to Elong Power, the company sold 16,500,000 units, each containing one Class A ordinary share (or pre-funded warrant) and one common warrant.

How many shares and warrants were issued in the Elong Power (ELPW) US$6.6 million offering?

Elong Power issued 16,500,000 units, each with one Class A ordinary share (or pre-funded warrant) and one common warrant. According to Elong Power, each common warrant allows purchase of one Class A ordinary share at US$0.40, subject to anti-dilution adjustments.

What is the exercise price and expiry date of Elong Power (ELPW) common warrants from the 2026 offering?

The common warrants are immediately exercisable at an initial exercise price of US$0.40 per share. According to Elong Power, the warrants include customary anti-dilution adjustments and will expire on the third anniversary of their issuance date, providing a three-year exercise window.

How will Elong Power use the proceeds from its July 2026 public offering?

Elong Power plans to use net proceeds for working capital, general corporate purposes, and business growth. According to Elong Power, funds will support further product iteration and development, as well as expansion of production capacity for its lithium-ion battery energy storage systems.

Who acted as placement agent for the Elong Power (NASDAQ: ELPW) public unit offering?

Maxim Group LLC served as the sole placement agent for the Elong Power public offering. According to Elong Power, the transaction was conducted on a best-efforts basis, with the securities registered under an effective Form F-1 registration statement declared effective on July 9, 2026.

Was the Elong Power (ELPW) US$6.6 million offering made under an effective SEC registration?

Yes. The offering was made under Elong Power’s effective Form F-1 registration statement, file number 333-297290. According to Elong Power, the SEC declared this registration statement effective on July 9, 2026, and the offering was conducted by means of the related prospectus.

What is the offering price per unit in Elong Power’s July 2026 public offering?

The offering price was US$0.40 per unit, with each unit including one share and one warrant. According to Elong Power, the common warrant exercise price was set equal to this public offering price and is immediately exercisable from issuance, subject to anti-dilution adjustments.