E-Power (NASDAQ: EPOW) sets $1.98M direct offering as Nasdaq flags $1 bid issue
Rhea-AI Filing Summary
E-Power Inc. entered into securities purchase agreements for a registered direct offering of 3,600,000 Class A ordinary shares at $0.55 per share, expecting gross proceeds of about $1,980,000 for working capital and general corporate purposes. The offering had not closed as of this report.
The company also disclosed that Nasdaq notified it on May 20, 2026 that its shares no longer meet the $1.00 minimum bid price requirement after trading below this level for 30 consecutive business days. E-Power has 180 calendar days, until November 16, 2026, to regain compliance, potentially including a reverse share split, while its Nasdaq Capital Market listing and business operations continue for now.
Positive
- None.
Negative
- Nasdaq minimum bid price deficiency and delisting risk: E-Power’s shares traded below the $1.00 minimum bid price for 30 consecutive business days, triggering a Nasdaq non-compliance notice and a November 16, 2026 deadline to regain compliance or potentially face delisting.
Insights
E-Power combines a small equity raise with emerging Nasdaq listing risk.
E-Power Inc. plans a registered direct offering of 3,600,000 Class A shares at $0.55, for roughly $1.98M in gross proceeds. This is a relatively modest capital infusion intended for working capital and general corporate purposes, and remains subject to customary closing conditions.
Separately, Nasdaq has deemed the stock non-compliant with the $1.00 minimum bid price after 30 consecutive business days below that threshold. E-Power has until November 16, 2026 to achieve at least 10 consecutive trading days with a closing bid at or above $1.00, or it risks delisting absent additional relief.
The company notes that current operations are unaffected by the notice and indicates it may consider tools such as a reverse share split. Subsequent disclosures around completion of the offering and any concrete compliance plan will further clarify its capital position and listing status.
Key Figures
Key Terms
registered direct offering financial
minimum bid price requirement market
Nasdaq Listing Rule 5550(a)(2) regulatory
graphite anode material technical
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2026
Commission File Number: 001-40008
E-Power Inc.
Room 703, West Zone, R&D Building
Zibo Science and Technology Industrial Entrepreneurship Park, No. 69 Sanying Road
Zhangdian District, Zibo City, Shandong Province
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Entry Into a Material Definitive Agreement
On May 21, 2026, E-Power Inc., an exempted company with limited liability formed in the Cayman Islands (the “Company”), entered into certain securities purchase agreements (the “Purchase Agreements”) with three purchasers (collectively, the “Purchasers”), pursuant to which the Company agreed to issue and sell, in a registered direct offering (the “Registered Direct Offering”), 3,600,000 Class A ordinary shares of the Company, par value $0.0001 per share (each a “Share,” and collectively, the “Shares”). The purchase price for each Share was $0.55.
As of the date of this report, the Registered Direct Offering has not yet been consummated. The Company expects to receive approximately $1,980,000 in gross proceeds from the Registered Direct Offering, before deducting estimated offering expenses. The Company intends to use the net proceeds from the Registered Direct Offering for working capital and general corporate purposes.
The Purchase Agreements contain customary representations, warranties, and agreements by the Company, customary conditions to closing, other obligations of the parties, and termination provisions.
The foregoing summary of the Purchase Agreements does not purport to be complete and is subject to, and qualified in its entirety by such document filed as Exhibit 10.1 hereto and incorporated by reference herein.
This report shall not constitute an offer to sell any securities or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Nasdaq Minimum Bid Price Deficiency Letter
On May 20, 2026, the Company received a written notification (the “Notification Letter”) from the Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that it is not in compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rules for continued listing on Nasdaq. A copy of the press release issued on May 22, 2026 announcing the receipt of the Notification Letter is filed as Exhibit 99.1 hereto.
Forward-Looking Statements
This report contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations, and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include the risks and uncertainties described in the Company’s annual report on Form 20-F for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the “Commission”) on May 15, 2026, and the Company’s other filings with the Commission. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
1
EXHIBIT INDEX
| Exhibit No. | Description | |
| 10.1 | Form of Purchase Agreement | |
| 99.1 | E-Power Inc. Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency |
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| E-Power Inc. | ||
| Date: June 9, 2026 | By: | /s/ Haiping Hu |
| Name: | Haiping Hu | |
| Title: | Chief Executive Officer | |
3
Exhibit 99.1
E-Power Inc. Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency
DOVER, USA, May 22, 2026 (GLOBE NEWSWIRE) -- E-Power Inc. (the “Company”, “we” or “our”) (NASDAQ: EPOW) today announced that the Company received a written notification (the “Notification Letter”) from the Nasdaq Stock Market LLC (“Nasdaq”) on May 20, 2026, notifying the Company that it is not in compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rules for continued listing on Nasdaq.
Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of US$1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company’s Class A ordinary shares for the 30 consecutive business days from April 8, 2026 to May 19, 2026, the Company no longer meets the minimum bid price requirement.
The Notification Letter does not impact the Company’s listing on the Nasdaq Capital Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until November 16, 2026, to regain compliance with Nasdaq Listing Rule 5550(a)(2). To regain compliance, the Company’s Class A ordinary shares must have a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days. In the event the Company does not regain compliance by November 16, 2026, the Company may be eligible for additional time to regain compliance or may face delisting.
The Company’s business operations are not affected by the receipt of the Notification Letter. The Company intends to monitor the closing bid price of its Class A ordinary shares and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse share split of its outstanding Class A ordinary shares, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.
About E-Power Inc.
E-Power Inc., through its joint venture, is engaged in the manufacturing and sale of graphite anode material for lithium-ion batteries. The Company’s joint venture has completed the construction of a manufacturing facility with a production capacity of 50,000 tons. The plant runs on inexpensive electricity from renewable sources, which helps to make E-Power a low-cost and low–environmental-impact producer of graphite anode material. Mr. Haiping Hu, the founder and CEO of the Company, is a major pioneer for the graphite anode industry in the world starting from 1999. The Company’s management team is also composed of experts with years of experiences and strong track-records of success in the graphite anode industry. For further information, please visit the Company’s website at www.sunrisenewenergy.com.
Forward-looking statement
Certain statements in this press release regarding the Company’s future expectations, plans, and prospects constitute forward-looking statements as defined by Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, assumptions and any other factual statements that have not occurred. Any words that refer to “may,” “will,” “want,” “should,” “believe,” “expect,” “expect,” “estimate,” “estimate,” or similar non-factual words, shall be regarded as forward-looking statements. Due to various factors, the actual results may differ materially from the historical results or the contents expressed in these forward-looking statements. These factors include, but are not limited to, the Company’s strategic objectives, the Company’s future plans, market demand and user acceptance of the Company’s products or services, technological updates, economic trends, the Company’s reputation and brand, the impact of industry competition, relevant policies and regulations, China’s macroeconomic conditions, international market conditions, and other related risks and assumptions. In view of the above and other related reasons, we advise investors not to blindly rely on these forward-looking statements, and we urge investors to visit the website of the United States Securities and Exchange Commission to review the Company’s filings for other factors that may affect the Company’s future operating results. The Company is under no obligation to make public amendments to changes in these forward-looking statements due to specific events or reasons unless required by law.
For more information, please contact:
The Company: IR Department
Email: IR@sunrisenewenergy.com
Phone: +1 4084890472