Elong Power Holding Limited completed an underwritten public offering of 21,700,000 units at US$0.3231 per unit, raising approximately US$7.0 million in gross proceeds. Each unit includes one Class A ordinary share and one common warrant to buy one Class A ordinary share.
The warrants are exercisable immediately at US$0.3231 per share, with exercise prices reset to 70% and 50% of that level on specified trading days, and the warrant share count adjusted so the total exercise value stays the same. Holders may also use a zero exercise price option that delivers twice the shares otherwise issuable.
The underwriter, Maxim Group LLC, receives a 7.0% fee on gross proceeds, expense reimbursement, and a 45‑day over‑allotment option for up to 3,255,000 additional shares and 3,255,000 additional warrants, of which 3,255,000 warrants were purchased. Elong Power plans to use net proceeds mainly for working capital, general corporate purposes, sales network expansion, and production capacity upgrades.
Elong Power Holding Limited is offering 21,700,000 Units, each comprising one Class A Ordinary Share and one Common Warrant, at an offering price of $0.3231 per Unit. The Common Warrants initially have an exercise price of $0.3231 per share, include price-reset mechanics that reduce the exercise price to $0.2262 and $0.1616 on the 2nd and 5th trading days after closing, and permit a zero exercise price option that could result in issuance of up to 86,800,000 Class A Ordinary Shares if exercised after the resets, without payment to the company.
The offering is underwritten by Maxim Group LLC on a firm commitment basis, with an underwriter option to purchase up to 3,255,000 additional Class A Ordinary Shares and/or Common Warrants. Net proceeds to the company before expenses are shown as $6,520,481 (without over-allotment). The prospectus highlights material China-related regulatory, foreign‑exchange, dividend‑flow and HFCAA/PCAOB risks and states "we will likely not receive any additional funds" upon exercise of the Common Warrants.
Elong Power Holding Limited, a Cayman Islands holding company for PRC battery subsidiaries, plans to offer 16,570,008 Units or Pre-Funded Units, each made up of one Class A ordinary share and one common warrant. The assumed price is $0.4828 per Unit, matching the recent Nasdaq price of its Class A shares under the symbol ELPW. The deal also registers up to 16,570,008 shares underlying pre-funded warrants and up to 66,280,032 shares underlying common warrants, which include a zero exercise price option and a three-year term.
Common and pre-funded warrants are subject to 4.99% or 9.99% ownership caps, and widespread use of the zero-cost exercise feature would bring in little additional cash to Elong. The offering is underwritten on a firm commitment basis by Maxim Group LLC, with a 7% underwriting discount and an over-allotment option for up to 2,485,501 additional shares or pre-funded warrants plus 2,485,501 additional common warrants.
Elong highlights that investors buy stock in the Cayman holding company, not directly in its PRC operating subsidiaries, and emphasizes extensive regulatory and enforcement risks tied to doing business in China, evolving CSRC filing rules, foreign exchange controls, dividend limitations, and potential future impacts from the HFCAA and PCAOB inspection regime.
Elong Power Holding Limited completed an underwritten unit offering, selling 2,400,000 units at $3.16 per unit for approximately $7.6 million in gross proceeds. Each unit includes one Class A ordinary share and one three-year warrant exercisable initially at $3.16 per share.
The Common Warrant exercise price automatically resets on the 4th and 8th trading days after closing to 70% and 50% of the initial price, or $2.21 and $1.58, with the number of warrant shares increased so the aggregate exercise price stays the same. The warrants also allow a zero exercise price option, delivering two shares for each share otherwise issuable for cash. Maxim Group LLC receives an 8% fee on gross proceeds and up to $125,000 of expenses. The underwriter’s over-allotment option was partially exercised for 242,270 additional warrants, and the deal closed on February 3, 2026. Net proceeds are earmarked for working capital and general corporate purposes.
Elong Power Holding Limited is conducting a primary offering of 2,400,000 units at $3.16 per unit, each consisting of one Class A Ordinary Share and one Common Warrant, and registering up to 9,600,000 Class A Ordinary Shares issuable upon exercise of those warrants. The company expects gross proceeds of $7,584,000 and net proceeds before expenses of $6,977,280, with Maxim Group LLC underwriting on a firm‑commitment basis and a 45‑day over‑allotment option for up to 360,000 additional shares and 360,000 additional warrants.
Each Common Warrant initially has a $3.16 exercise price but features price resets to $2.212 and $1.58 on the 4th and 8th trading days, with proportional increases in warrant shares, and also includes a zero exercise price option under which up to 9,600,000 shares could be issued without additional cash to Elong. The structure includes 4.99% or 9.99% beneficial ownership limits, and the prospectus highlights that this may cause substantial dilution and potential Nasdaq trading or listing concerns. Elong is a Cayman Islands holding company whose operations are conducted through PRC subsidiaries, and it emphasizes extensive legal, regulatory, foreign‑exchange and HFCAA‑related risks tied to doing business in China.
Elong Power Holding Limited is registering 6,666,666 units or pre-funded units, each tied to one Class A ordinary share (or pre-funded warrant) plus one common warrant. The filing also registers up to 6,666,666 Class A shares underlying the pre-funded warrants and up to 26,666,664 Class A shares underlying the common warrants, including a zero exercise price option. Units are expected to be priced at the Nasdaq official closing price per share immediately before the underwriting agreement, illustrated in the prospectus at an assumed US$1.20 per unit. The company is a Cayman Islands holding firm whose operations are conducted through subsidiaries in China, and the prospectus highlights extensive PRC regulatory, cash transfer, HFCAA and delisting risks that could materially affect operations and the value of its Class A ordinary shares.
Elong Power Holding Limited reports that it has regained compliance with Nasdaq’s minimum bid price requirement. The company previously received a notice on October 3, 2025 stating that its ordinary shares had closed below $1.00 per share for 30 consecutive business days, triggering a 180-day cure period ending April 1, 2026 under Nasdaq Listing Rule 5450(a)(1).
On January 12, 2026, Nasdaq informed Elong Power that, for the 10 consecutive business days from December 26, 2025 to January 9, 2026, the closing bid price of its ordinary shares was at or above $1.00 per share. As a result, the company is again in compliance with Listing Rule 5450(a)(1), and Nasdaq has closed this matter.
Elong Power Holding Limited reported results of a Class A shareholder meeting and an extraordinary general meeting that approved several major governance and capital structure changes. Shareholders approved increasing the voting rights of each Class B ordinary share from 50 votes to 200 votes, significantly strengthening the relative influence of Class B holders compared with Class A holders, who retain one vote per share. They also approved raising authorized share capital from US$25,000,000 to US$240,000,000, increasing the number of authorized Class A and Class B shares proportionally.
In addition, shareholders approved a fourth amended and restated memorandum and articles of association to reflect these changes, plus authority for the board to carry out additional share consolidations over up to two years, with an aggregate consolidation ratio of up to 4,000:1. Related resolutions allowing adoption of new governing documents after each consolidation and broad implementation authorities for directors, the registered office provider, and the share registrar were also passed.
Elong Power Holding Limited implemented a reverse stock split to help meet Nasdaq’s minimum share price rules. The company’s board approved a 16-for-1 share consolidation, effective December 2, 2025, combining every sixteen Class A or Class B ordinary shares into one new share and rounding any fractional interests up to a full share.
After the consolidation, outstanding shares changed from approximately 61.3 million Class A and 5.8 million Class B ordinary shares with a par value of $0.00001 each to approximately 3.8 million Class A and 0.4 million Class B ordinary shares with a par value of $0.00016 each. The company also adjusted the number of authorized shares and par value in its governing documents.
On December 26, 2025, the Class A ordinary shares began trading on the Nasdaq Global Market on a post-split basis under the symbol "ELPW". The consolidation is intended to help the company regain compliance with Nasdaq’s $1.00 minimum bid price requirement, for which it has until April 1, 2026, although there is no assurance compliance will be achieved.