Elong Power Holding Limited Announces the Change of Effective Date of its 1 for 45 Share Consolidations
Rhea-AI Summary
Elong Power Holding Limited (Nasdaq: ELPW) will implement a 1-for-45 share consolidation (reverse split) of its Class A and Class B ordinary shares, effective at the open of Nasdaq trading on August 10, 2026, with a new CUSIP G3016G137.
According to the company, the objective is to maintain compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii), which requires a closing bid price above $0.10. Each 45 shares at par value $0.0128 will combine into one share at par value $0.576. Outstanding Class A shares will move from about 35 million to approximately 0.78 million, and Class B from about 114,515 to approximately 2,545, with authorized shares proportionally reduced. No fractional shares will be issued; each holder will receive at least one full share, and percentage ownership is expected to remain substantially unchanged aside from rounding.
Positive
- 1-for-45 reverse split aims to help maintain Nasdaq bid-price compliance above $0.10
- Outstanding Class A shares reduced from ~35 million to ~0.78 million; Class B to ~2,545
- No fractional shares; each affected holder receives at least one full share
Negative
- Reverse split undertaken to address Nasdaq Listing Rule 5810(c)(3)(A)(iii) minimum bid-price requirement
Market reaction after 1-for-45 share consolidation: ELPW -22.70% in the Aug 6 session
In the Aug 6 session, ELPW declined 22.70%, reflecting a significant negative market reaction. Argus tracked a trough of -24.5% from its starting point during tracking. Our momentum scanner triggered 22 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 13 | public offering closing | Negative | -18.6% | Closed a US$6.6 million offering involving shares and warrants. |
| Jul 10 | public offering pricing | Negative | -47.0% | Priced a US$6.6 million offering of units and warrants. |
| May 18 | public offering closing | Negative | -3.6% | Closed a US$6.0 million offering containing shares and warrants. |
| May 15 | public offering pricing | Negative | -51.0% | Priced a US$6.0 million offering of units and warrants. |
| Mar 06 | reverse share consolidation | Neutral | -43.9% | Announced a 1-for-80 consolidation effective March 12. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
The four recent offering-related events were followed by negative 24-hour reactions, and the prior reverse-split announcement also had a negative reaction.
Key Terms
reverse split financial
cusip technical
par value financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
On January 6, 2026, the Company held an extraordinary general meeting of the shareholders, and the shareholders approved to implement share consolidations of the Company's Class A ordinary shares and Class B ordinary shares at any one time or multiple times, at the exact consolidation ratio and effective time as the Board may determine from time to time in its absolute discretion, provided that the accumulative consolidation ratio for all such share consolidations shall not be more than 4000:1, and authorized the Board to implement such share consolidations at any time during a period of up to two years of the date of the meeting. On July 31, 2026, the board approved implementation of the Reverse Split at a ratio of 1 for 45 shares.
The objective of the Reverse Split is to enable the Company to maintain compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii), which requires issuers listed on Nasdaq to maintain a closing bid price of greater than
Upon the open of trading on August 10, 2026, the Company's Class A ordinary shares will begin trading on a Reverse Split-adjusted basis, under the same symbol "ELPW" but under a new CUSIP number, G3016G137.
As a result of the Reverse Split, each 45 Class A ordinary shares with a par value of
No fractional shares will be issued to any shareholders in connection with the Reverse Split, and each shareholder will be entitled to receive one full Class A ordinary share or Class B ordinary share, as applicable, in the Company in lieu of the fractional share that would have resulted from the Reverse Split.
At the time the share consolidation is effective, the Company's total issued and outstanding Class A ordinary shares will change from approximately 35 million Class A ordinary shares of a par value of
About Elong Power Holding Limited
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 contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the documents filed with the United States Securities and Exchange Commission (the "SEC"). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Elong Power Holding Limited
ir@elongpower.com
View original content:https://www.prnewswire.com/news-releases/elong-power-holding-limited-announces-the-change-of-effective-date-of-its-1-for-45-share-consolidations-302845178.html
SOURCE Elong Power Holding Limited