Elong Power Holding Limited Announces Closing of US$7.0 Million Public Offering

Elong Power (NASDAQ: ELPW) closed an underwritten public offering of 21,700,000 Units at US$0.3231 per Unit, generating approximately US$7.0 million gross proceeds on Feb 27, 2026.

Rhea-AI Summary

Elong Power (NASDAQ: ELPW) closed an underwritten public offering of 21,700,000 Units at US$0.3231 per Unit, generating approximately US$7.0 million gross proceeds on Feb 27, 2026.

Each Unit includes one Class A ordinary share and one common warrant exercisable immediately, expiring three years after issuance, with specified exercise-price adjustments on Mar 3 and Mar 6, 2026. The underwriter partially exercised a 45-day over-allotment option for 3,255,000 Common Warrants. Proceeds are for general corporate purposes and working capital; registration was declared effective Feb 25, 2026.

Positive

• Gross proceeds of ~US$7.0 million
• Underwriter partially exercised 3,255,000 over-allotment warrants

Negative

• Potential dilution from 21,700,000 Units plus exercised warrants
• Immediate exercisability and adjustment features may increase share count

Argus Mar 2 session

-16.90% close to close Open Argus

Details

News Market Reaction – ELPW

On Mar 2, the first trading day after this news, ELPW closed 16.90% below the previous close.

Data tracked by StockTitan Argus for the Mar 2 session.

Market Context

On Mar 2, the first trading day after this news, the stock closed 16.9% below the previous close. A ...

Analysis

On Mar 2, the first trading day after this news, the stock closed 16.9% below the previous close. A negative reaction despite this being a closing announcement fits ELPW’s volatile history around offerings. Earlier unit financings on Feb 2–3, 2026 saw swings of -90.39% and 61.09%, and the latest pricing news preceded a -54.81% move. Three‑year warrants with reset and zero‑cash exercise features, plus a stock already far below its 200-day MA, have coincided with repeated dilution concerns.

Key Figures

Offering size: US$7.0 million Units offered: 21,700,000 Units Unit price: US$0.3231 per Unit +5 more

Offering size

US$7.0 million

Gross proceeds from current public offering

Units offered

21,700,000 Units

Number of Units sold in the offering

Unit price

US$0.3231 per Unit

Public offering price per Unit

Par value

US$0.00016 per share

Par value of each Class A Ordinary Share

Warrant term

3 years

Expiration period of each Common Warrant

Initial exercise price

US$0.3231 per share

Initial Common Warrant exercise price

Reset levels

70% and 50% of initial price

Exercise price resets on Mar 3 and Mar 6, 2026

Over-allotment warrants

3,255,000 Common Warrants

Portion of option exercised by underwriter

Previous Offering Reports

3 past events · Latest: Feb 26

Same Type 3 events

1. Feb 26

   Equity offering pricing

   24h Move

   -54.8%

   Priced US$7.0M unit offering with one-for-one common warrants.

2. Feb 03

   Offering closing

   24h Move

   +61.1%

   Closed US$7.6M underwritten unit deal with three-year warrants.

3. Feb 02

   Equity offering pricing

   24h Move

   -90.4%

   Priced US$7.6M unit deal; warrants with reset and zero-cost features.

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

Key Terms

underwritten public offering, common warrant, zero cash exercise option, over-allotment, +2 more

6 terms

underwritten public offering financial

"today announced the closing of its underwritten public offering (the "Offering")"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

common warrant financial

"and one common warrant (each a "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.

zero cash exercise option financial

"may be exercised on a zero cash exercise option pursuant to which the holder may exchange"

A zero cash exercise option lets a holder convert an option into shares without handing over money by surrendering a portion of the newly issued shares to cover the cost and any taxes, like getting an item by returning part of it instead of paying cash. For investors this matters because it changes how many new shares actually enter the market and whether a company needs cash to fulfill the grant, affecting ownership percentages and per-share metrics.

over-allotment financial

"to cover any over-allotment. On February 27, 2026, the underwriter partially exercised"

An over-allotment is an arrangement that lets underwriters sell a small, predefined extra amount of shares beyond an initial offering to meet unexpected demand and smooth trading, like a bakery baking a few extra loaves for a sudden rush of customers. It matters to investors because it temporarily increases supply, can reduce price swings by allowing underwriters to buy back shares if the price falls, and may cause modest, planned dilution if those extra shares are retained.

View in glossary

registration statement on F-1 regulatory

"A registration statement on F-1 (File No. 333-293527) was filed with the U.S."

A registration statement on Form F-1 is a formal filing with the U.S. Securities and Exchange Commission that a non‑U.S. company submits when it plans to offer securities to U.S. investors, often as part of an initial public offering. It provides the company’s business description, audited financials and risk factors so investors can evaluate the opportunity—think of it as a detailed blueprint or prospectus that helps buyers understand what they are getting into before putting money down.

prospectus regulatory

"The Offering was made only by means of a prospectus forming part of the effective"

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.

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

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BEIJING, Feb. 27, 2026 /PRNewswire/ -- Elong Power Holding Limited (NASDAQ: ELPW) ("Elong Power" or the "Company"), a provider of high power battery technologies for commercial and specialty alternative energy vehicles and energy storage systems, today announced the closing of its underwritten public offering (the "Offering") of 21,700,000 Units on a firm commitment basis, at a price of US$0.3231 per Unit. Each Unit consists of one Class A ordinary share, par value of US$0.00016 per share (each a "Class A Ordinary Share"), of the Company and one common warrant (each a "Common Warrant") to purchase one Class A Ordinary Share.

Each Common Warrant will expire three years from the date of issuance, and is exercisable immediately on the date of issuance at an exercise price of US$0.3231 per share, subject to adjustment on March 3, 2026 and March 6, 2026 to the price that is equal to 70% and 50%, respectively, of the initial exercise price of the Common Warrants, and the number of Class A Ordinary Shares underlying the Common Warrants will be proportionately increased. The Common Warrants may also be exercised on a zero cash exercise option pursuant to which the holder may exchange each Common Warrant for twice the number of Class A Ordinary Shares issuable on a cash exercise of such Common Warrant.

The Company has granted the underwriter a 45-day option to purchase up to 3,255,000 additional Class A Ordinary Shares and/or 3,255,000 additional Common Warrants, at its respective public offering price less underwriting discounts and commissions, to cover any over-allotment. On February 27, 2026, the underwriter partially exercised such option with respect to 3,255,000 Common Warrants.

The company received total gross proceeds of approximately US$7.0 million, before deducting underwriting discounts and other offering expenses. The Company intends to use the proceeds from the Offering for general corporate purposes and working capital.

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

A registration statement on F-1 (File No. 333-293527) was filed with the U.S. Securities and Exchange Commission ("SEC") and was declared effective by the SEC on February 25, 2026. The Offering was made only by means of a prospectus forming part of the effective registration statements. A final prospectus relating to the Offering was filed with the SEC and is available on the SEC's website at www.sec.gov.

This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and no sale of these securities may be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Elong Power

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 may contain "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, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the products offered by Elong Power and the markets in which it operates, and Elong Power's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: the ability of Elong Power to maintain the listing of its securities on Nasdaq; the fact that the price of Elong Power's securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which Elong Power operates; variations in performance across competitors; changes in laws and regulations affecting Elong Power's business and changes in its capital structure; the ability to implement business plans, meet forecasts and other expectations; its need for substantial additional funds; the parties' dependence on third-party suppliers; risks relating to the results of research and development activities, market and other conditions; its ability to attract, integrate, and retain key personnel; risks related to its growth strategy; risks related to patent and intellectual property matters; and the ability to obtain, perform under and maintain financing and strategic agreements and relationships. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding Elong Power's business are described in detail in Elong Power's SEC filings which are available on the SEC's website at www.sec.gov, including in Elong Power's Annual Report on Form 20-F and Elong Power's subsequent filings with the SEC. These forward-looking statements speak only as of the date hereof, and Elong Power expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

For investor and media inquiries, please contact:

Elong Power Investor Contact
ir@elongpower.com

View original content:https://www.prnewswire.com/news-releases/elong-power-holding-limited-announces-closing-of-us7-0-million-public-offering-302699699.html

SOURCE Elong Power Holding Limited

FAQ

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

How many Units did Elong Power (ELPW) sell in the Feb 27, 2026 offering?

Elong Power sold 21,700,000 Units in the offering. According to the company, each Unit included one Class A ordinary share and one common warrant.

What price did Elong Power (ELPW) set per Unit and what were the gross proceeds?

The offering price was US$0.3231 per Unit, raising approximately US$7.0 million gross. According to the company, proceeds are for general corporate purposes and working capital.

What are the key terms of the common warrants issued by Elong Power (ELPW)?

Each common warrant is exercisable immediately, expires three years from issuance, and has an initial exercise price of US$0.3231. According to the company, specified adjustments apply on Mar 3 and Mar 6, 2026.

Did the underwriter use the over-allotment option in Elong Power's (ELPW) offering?

Yes, the underwriter partially exercised the 45-day over-allotment option for 3,255,000 Common Warrants on Feb 27, 2026. According to the company, this covered over-allotment demand.

How will Elong Power (ELPW) use the proceeds from the offering?

Elong Power intends to use the offering proceeds for general corporate purposes and working capital. According to the company, no more specific allocations were disclosed in the announcement.

Was the Elong Power (ELPW) registration statement declared effective before the offering closed?

Yes, the registration statement on Form F-1 (File No. 333-293527) was declared effective on Feb 25, 2026. According to the company, the offering was made by prospectus from that effective filing.