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

Rhea-AI Summary

Elong Power Holding (Nasdaq: ELPW) priced a registered public offering of 16,500,000 units at US$0.40 per Unit, on a best efforts basis, for expected gross proceeds of about US$6.6 million before fees and expenses.

Each Unit includes one Class A ordinary share (or a pre-funded warrant in lieu thereof) and one common warrant to purchase one Class A ordinary share. Common warrants are immediately exercisable at US$0.40, feature customary anti-dilution adjustments, and expire three years from issuance. Closing is expected on July 13, 2026, subject to customary conditions. Elong Power plans to use net proceeds for working capital, general corporate purposes, product iteration and development, and production capacity expansion. Maxim Group is sole placement agent, with the offering made under an effective Form F-1 registration statement declared effective on July 9, 2026.

Positive

• US$6.6 million expected gross proceeds to fund operations and growth
• 16.5 million Units priced with immediately exercisable warrants at US$0.40
• Use of proceeds targets product development and capacity expansion

Negative

• Offering adds 16.5 million new shares (plus warrants), increasing potential dilution
• Gross proceeds of US$6.6 million will be reduced by fees and expenses

Market reaction after US$6.6 million unit offering: ELPW -47.00% in the Jul 10 session

-47.00% 29.9x vol

177 alerts

-47.00% Session close to close

-72.5% Trough in 5 hr 41 min

$2.02M Market Cap

29.9x Rel. Volume

In the Jul 10 session, ELPW declined 47.00%, reflecting a significant negative market reaction. Argus tracked a trough of -72.5% from its starting point during tracking. Our momentum scanner triggered 177 alerts that day, indicating very high trading interest and price volatility. Trading volume was exceptionally heavy at 29.9x the daily average, suggesting significant selling pressure.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock dropped -47.0% in the session following this news. A sharp decline after announcing the US...

Analysis

The stock dropped -47.0% in the session following this news. A sharp decline after announcing the US$6.6 million unit offering would resemble prior financings, which averaged about -13.05% moves. Moderate short interest could add trading pressure, while repeated equity raises remain a key overhang to monitor.

Key Figures

Units offered: 16,500,000 Units Offering price: US$0.40 per Unit Gross proceeds: US$6.6 million +5 more

8 metrics

Units offered 16,500,000 Units Registered public offering on a best efforts basis

Offering price US$0.40 per Unit Pricing of current public offering

Gross proceeds US$6.6 million Expected aggregate gross proceeds before expenses

Par value US$0.0128 per share Par value of each Class A ordinary share

Warrant exercise price US$0.40 Initial exercise price per Common Warrant share

Closing date July 13, 2026 Expected closing of the Offering, subject to conditions

F-1 effectiveness date July 9, 2026 Form F-1 (File No. 333-297290) declared effective by SEC

Registered Units 10,152,285 Units Maximum Units registered on July 6, 2026 Form F-1

Previous Offering Reports

5 past events · Latest: May 18 (Negative)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 18	Offering closing	Negative	-3.6%	Closed US$6.0M unit offering with attached three-year warrants.
May 15	Offering pricing	Negative	-51.0%	Priced US$6.0M unit offering at US$1.30 per Unit.
Feb 27	Offering closing	Negative	-16.9%	Closed US$7.0M underwritten unit offering with immediate warrants.
Feb 26	Offering pricing	Negative	-54.8%	Priced US$7.0M underwritten unit offering at US$0.3231.
Feb 03	Offering closing	Positive	+61.1%	Closed US$7.6M offering of 2,400,000 Units with warrants.

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

Pattern Detected

Past equity offerings have generally been followed by share price declines, with one notable upside outlier.

Key Terms

pre-funded warrant, common warrant, anti-dilution, 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 financial

"subject to customary anti-dilution adjustments in connection with share splits"

A provision that protects an investor’s ownership stake or the value of convertible securities when a company issues new shares at a lower price. It adjusts the investor’s number of shares or the conversion price so their percentage of ownership or economic interest isn’t unfairly reduced — like getting a bigger slice of cake if the baker cuts more pieces, preserving your share of the whole.

form f-1 regulatory

"Registration Statement on Form F-1 (File No. 333-297290)"

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.

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

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BEIJING, July 10, 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 pricing of its registered offering of 16,500,000 units (each, a "Unit"), on a best efforts basis, 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"). The aggregate gross proceeds from the Offering are expected to be approximately US$6.6 million, prior to deducting placement agent fees, legal fees, administrative and other offering-related expenses.

Each Common Warrant will be 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 closing of the Offering is currently expected to take place on July 13, 2026, subject to the satisfaction of customary closing conditions set forth in the Securities Purchase Agreements and related transaction documents. 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 is acting as the sole placement agent for the Offering. Ortoli Rosenstadt LLP is acting as U.S. securities counsel to the Company, and Pryor Cashman LLP is acting 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 is being 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-pricing-of-us6-6-million-public-offering-302822777.html

SOURCE Elong Power Holding Limited

FAQ

What are the key terms of Elong Power (NASDAQ: ELPW) July 2026 public offering?

Elong Power priced 16,500,000 Units at US$0.40 each, for expected gross proceeds of about US$6.6 million. According to Elong Power, each Unit includes one share (or pre-funded warrant) and one common warrant exercisable at US$0.40.

What does each Unit include in the Elong Power (ELPW) US$6.6 million offering?

Each Unit consists of one Class A ordinary share or a pre-funded warrant, plus one common warrant. According to Elong Power, each common warrant is immediately exercisable at US$0.40 per share and will expire on the third anniversary of issuance.

When is the expected closing date of Elong Power’s (ELPW) July 2026 Unit offering?

The offering’s closing is expected on July 13, 2026, subject to customary closing conditions. According to Elong Power, these conditions are set forth in the Securities Purchase Agreements and related transaction documents governing the registered offering.

How will Elong Power (NASDAQ: ELPW) use the proceeds from its US$6.6 million offering?

Elong Power plans to use net proceeds for working capital, general corporate purposes, and business growth. According to Elong Power, funds will also support further product iteration and development, along with expansion of production capacity for its energy storage systems.

What is the exercise price and duration of Elong Power (ELPW) common warrants in this offering?

Common warrants are immediately exercisable at an initial exercise price of US$0.40 per share, matching the Unit price. According to Elong Power, the warrants include customary anti-dilution adjustments and will expire on the third anniversary of their issuance date.

Which firm is acting as placement agent for Elong Power’s July 2026 public offering?

Maxim Group LLC is serving as the sole placement agent for Elong Power’s Unit offering. According to Elong Power, the registered offering is made under an effective Form F-1 registration statement declared effective by the U.S. Securities and Exchange Commission.