The Business has actually given the underwriter a 45-day alternative to acquire as much as 3,255,000 extra Class A Ordinary Shares and/or 3,255,000 extra Typical Warrants, at its particular public offering rate less underwriting discount rates and commissions, to cover any over-allotment. On February 27, 2026, the underwriter partly worked out such alternative with regard to 3,255,000 Typical Warrants.
The business got overall gross earnings of roughly US$ 7.0 million, before subtracting underwriting discount rates and other offering expenditures. The Business plans to utilize the earnings from the Offering for basic business functions and working capital.
Maxim Group LLC served as the special underwriter. Ortoli Rosenstadt LLP served as U.S. securities counsel to the Business, and Pryor Cashman LLP served as U.S. securities counsel to the underwriter, in connection with the Offering.
This news release has actually been gotten ready for informative functions just and will not make up a deal to offer or the solicitation of a deal to purchase any securities, and no sale of these securities might be made in any state or jurisdiction in which such deal, solicitation or sale would be illegal previous to registration or certification under the securities laws of any such state or other jurisdiction.
About Elong Power
Elong Power Holding Limited, a Cayman Islands excused business, is dedicated to the research study and advancement, production, sales and service of high-power lithium-ion batteries for electrical lorries and building and construction equipment, along with 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.
Positive Declarations
For financier and media queries, please contact:
Elong Power Financier Contact
[email protected]
SOURCE Elong Power Holding Limited
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BEIJING, Feb. 27, 2026/ PRNewswire/– Elong Power Holding Limited ( NASDAQ: ELPW) (” Elong Power” or the “Business”), a supplier of high power battery innovations for business and specialized alternative energy lorries and energy storage systems, today revealed the closing of its underwritten public offering (the “Offering”) of 21,700,000 Systems on a company dedication basis, at a rate of US$ 0.3231 per System. Each System includes one Class A common share, par worth of US$ 0.00016 per share (each a “Class A Ordinary Share”), of the Business and one typical warrant (each a “Typical Warrant”) to acquire one Class A Ordinary Share.
Each Typical Warrant will end 3 years from the date of issuance, and is exercisable instantly on the date of issuance at a workout rate of US$ 0.3231 per share, based on modification on March 3, 2026 and March 6, 2026 to the rate that amounts to 70% and 50%, respectively, of the preliminary workout rate of the Typical Warrants, and the variety of Class A Ordinary Shares underlying the Typical Warrants will be proportionately increased. The Typical Warrants might likewise be worked out on an absolutely no money workout alternative pursuant to which the holder might exchange each Typical Warrant for two times the variety of Class A Ordinary Shares issuable on a money workout of such Typical Warrant.
A registration declaration on F-1 (File No. 333-293527) was submitted with the U.S. Securities and Exchange Commission (” SEC”) and was stated reliable by the SEC on February 25, 2026. The Offering was made just by methods of a prospectus forming part of the reliable registration declarations. A last prospectus connecting to the Offering was submitted with the SEC and is offered on the SEC’s site at www.sec.gov.
Elong Power has an extensive item and innovation system that consists of battery cells, modules, system combination, and battery management system advancement, based upon high-power lithium-ion batteries and battery system items for long-cycle energy storage gadgets. Elong Power uses innovative energy applications and complete life process services. Its item portfolio consists of items making use of lithium manganese oxide and lithium iron phosphate, to name a few, to fulfill the requirements of high-power applications and energy storage applications in different situations.
This news release might consist of “positive declarations” within the significance of Area 27A of the Securities Act of 1933 and Area 21E of the Securities Exchange Act of 1934, consisting of declarations relating to the advantages of the deal, the expected timing of the deal, the items provided by Elong Power and the marketplaces in which it runs, and Elong Power’s predicted future outcomes. These positive declarations usually are recognized by the words “think,” “task,” “anticipate,” “prepare for,” “quote,” “mean,” “technique,” “future,” “chance,” “strategy,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and comparable expressions. Positive declarations are forecasts, forecasts and other declarations about future occasions that are based upon existing expectations and presumptions and, as an outcome, go through threats and unpredictabilities. Lots of aspects might trigger real future occasions to vary materially from the positive declarations in this file, consisting of, however not restricted to: the capability of Elong Power to preserve the listing of its securities on Nasdaq; the reality that the rate of Elong Power’s securities might be unpredictable due to a range of aspects, consisting of modifications in the competitive and extremely managed markets in which Elong Power runs; variations in efficiency throughout rivals; modifications in laws and guidelines impacting Elong Power’s organization and modifications in its capital structure; the capability to execute organization strategies, fulfill projections and other expectations; its requirement for considerable extra funds; the celebrations’ reliance on third-party providers; threats connecting to the outcomes of research study and advancement activities, market and other conditions; its capability to bring in, incorporate, and keep crucial workers; threats connected to its development technique; threats connected to patent and copyright matters; and the capability to get, carry out under and preserve funding and tactical arrangements and relationships. Appropriately, these positive declarations do not make up assurances of future efficiency, and you are warned not to put excessive dependence on these positive declarations. Threats relating to Elong Power’s organization are explained in information in Elong Power’s SEC filings which are offered on the SEC’s site at www.sec.gov, consisting of in Elong Power’s Yearly Report on Kind 20-F and Elong Power’s subsequent filings with the SEC. These positive declarations speak just since the date hereof, and Elong Power specifically disclaims any responsibility or carrying out to launch openly any updates or modifications to any positive declarations included herein to show any modification in our expectations or any modifications in occasions, conditions, or scenarios on which any such declaration is based, other than as needed by law.