Elong Power Holding Closes Successful Public Offering of $6.6 Million in Units

Elong Power Holding Limited Announces Closing of its $6.6 Million Public Offering

On July 13, 2026, Elong Power Holding Limited, a publicly traded company on the Nasdaq under the ticker ELPW, reported the successful closing of its latest public offering. This offering, conducted on a best-efforts basis, comprised 16.5 million units, each priced at $0.40. Each of these units included a Class A ordinary share and a common warrant, both aimed at enhancing shareholder value.

The gross proceeds from this public offering reached approximately $6.6 million before accounting for various costs such as placement agent fees and legal expenses. Elong Power plans to utilize these funds primarily for working capital and to accelerate the development of their advanced lithium-ion battery energy storage systems. This step reflects the company's ongoing commitment to innovate within the energy sector, particularly focusing on creating effective and sustainable energy solutions.

Each common warrant from the offering is immediately exercisable at a price equal to the public offering price per unit, showcasing a strategic design to ensure that investors are motivated to participate actively in the growth trajectory of the company. The warrants will retain their value until they expire three years from issuance.

Maxim Group LLC served as the exclusive placement agent for the offering while Ortoli Rosenstadt LLP and Pryor Cashman LLP provided crucial legal guidance through the process. The positive response to this offering is indicative of market confidence in Elong Power's vision and potential.

Headquartered in Beijing, Elong Power is committed to providing innovative energy solutions. The company’s business strategy emphasizes a unique approach incorporating AI and a global market outlook. This model is designed to facilitate significant advancements in lithium battery technology, enabling them to deliver cost-effective and reliable energy storage systems for a variety of applications.

Elong Power’s emphasis on fostering a strong R&D foundation highlights its commitment to enhancing product sophistication and production capacity. This mirrors the growing global demand for energy storage solutions, which have become increasingly vital in a world moving towards renewable energy sources.

Furthermore, Elong Power aims to make its mark in both residential and commercial energy storage sectors, strategically positioning itself within the competitive landscape of energy management. With Ms. Xiaodan Liu at the helm, the company's leadership is directing the focus toward robust sector growth fueled by technological advancements.

Investors interested in the offering can access the registration statement filed with the U.S. Securities and Exchange Commission, which contains detailed information about the terms and structure of the offering. This commitment to transparency reflects the company’s dedication to maintaining the trust of its stakeholders.

In conclusion, Elong Power Holding Limited's recent public offering reaffirms its strong positioning in the energy storage market and its proactive approach to research and development. As they continue to forge ahead with their strategic initiatives, the company's innovative solutions are poised to meet the dynamic energy needs of the future, aligning with global initiatives to enhance sustainability.