Elong Power Holding Limited Announces Closing of US$7.6 Million Public Offering

Elong Power Holding (Nasdaq: ELPW) closed an underwritten public offering of 2,400,000 Units at US$3.16 per Unit, generating approximately US$7.6 million in gross proceeds.

Rhea-AI Summary

Elong Power Holding (Nasdaq: ELPW) closed an underwritten public offering of 2,400,000 Units at US$3.16 per Unit, generating approximately US$7.6 million in gross proceeds.

Each Unit includes one Class A ordinary share and one common warrant exercisable immediately for three years at US$3.16, with scheduled exercise-price adjustments and a zero-cash exercise option. The company received partial over-allotment exercise and intends to use proceeds for general corporate purposes and working capital.

Positive

• Gross proceeds of approximately US$7.6M raised
• Issuance of 2,400,000 Units expands liquidity
• Warrants provide potential future equity without immediate cash drain

Negative

• Immediate dilution from 2,400,000 new shares and additional warrants
• Exercise-price adjustments could increase share issuance if triggered

Argus Feb 4 session

+61.09% close to close Open Argus

Details

News Market Reaction – ELPW

On Feb 4, the first trading day after this news, ELPW closed 61.09% above the previous close.

Data tracked by StockTitan Argus for the Feb 4 session.

Key Figures

Units offered: 2,400,000 Units Offering price: US$3.16 per Unit Gross proceeds: US$7.6 million +5 more

Units offered

2,400,000 Units

Underwritten public offering size

Offering price

US$3.16 per Unit

Public offering price per Unit

Gross proceeds

US$7.6 million

Total gross proceeds before expenses

Over-allotment option

360,000 shares and 360,000 warrants

Underwriter 45-day option capacity

Par value

US$0.00016 per share

Class A Ordinary Share par value

Warrant term

3 years

Common Warrant expiration from issuance

Warrant exercise price

US$3.16 per share

Initial Common Warrant exercise price

Partial over-allotment used

242,270 Common Warrants

Underwriter partial exercise on Feb. 2, 2026

Previous Offering Reports

1 past event · Latest: Feb 02

Same Type 1 event

1. Feb 02

   Equity offering

   24h Move

   -90.4%

   Pricing of US$7.6M unit offering with attached common warrants.

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, +3 more

7 terms

underwritten public offering financial

"announced the closing of its underwritten public offering (the "Offering") of 2,400,000"

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"

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

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

"additional Common Warrants, at its respective public offering price less underwriting"

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. 333-292937) was filed with the"

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.

U.S. Securities and Exchange Commission regulatory

"filed with the U.S. Securities and Exchange Commission ("SEC") and was declared"

The U.S. Securities and Exchange Commission is a government agency responsible for overseeing the stock market and protecting investors. It sets rules to ensure that companies share truthful information and that trading is fair, helping to maintain trust in the financial system. This oversight is important because it helps prevent fraud and ensures that investors can make informed decisions.

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

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BEIJING, Feb. 3, 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 2,400,000 Units on a firm commitment basis, at a price of US$3.16 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$3.16 per share, subject to adjustment on February 9, 2026 and February 13, 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 360,000 additional Class A Ordinary Shares and/or 360,000 additional Common Warrants, at its respective public offering price less underwriting discounts and commissions, to cover any over-allotment. On February 2, 2026, the underwriter partially exercised such option with respect to 242,270 Common Warrants.

The company received total gross proceeds of approximately US$7.6 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. 333-292937) was filed with the U.S. Securities and Exchange Commission ("SEC") and was declared effective by the SEC on January 29, 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-us7-6-million-public-offering-302678295.html

SOURCE Elong Power Holding Limited

FAQ

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

How much capital did Elong Power (ELPW) raise in the February 3, 2026 offering?

The offering generated approximately US$7.6 million in gross proceeds. According to the company, proceeds came from 2,400,000 Units sold at US$3.16 per Unit and before underwriting discounts and expenses.

What did each Unit in Elong Power's (ELPW) offering include and what are the warrant terms?

Each Unit included one Class A ordinary share and one common warrant exercisable immediately for three years at US$3.16. According to the company, the warrants have scheduled exercise-price adjustments and a zero-cash exercise option.

Will Elong Power (ELPW) face dilution from the public offering and warrants?

Yes, dilution is expected from the issuance of 2,400,000 Units and additional over-allotment shares. According to the company, the underwriter also partially exercised an option, adding 242,270 warrants that may increase share count if exercised.

How does Elong Power (ELPW) plan to use the proceeds from the offering?

The company intends to use the proceeds for general corporate purposes and working capital. According to the company, funds will support operational needs rather than being earmarked for a specific acquisition or project.

Who underwrote Elong Power's (ELPW) offering and was the SEC registration effective?

Maxim Group LLC acted as exclusive underwriter and the SEC declared the F-1 registration effective on January 29, 2026. According to the company, a final prospectus was filed and is available on the SEC website.