#None #Public Offering #battery technology #Elong Power

Elong Power Holding Limited Completes $7 Million Public Offering

On February 27, 2026, Elong Power Holding Limited (NASDAQ: ELPW), a prominent player in the high-power battery technology sector, announced the successful closing of its underwritten public offering, generating a substantial $7 million in gross proceeds. This offering, consisting of 21,700,000 units priced at $0.3231 each, is aimed at bolstering the company’s current initiatives in the commercial and specialty alternative energy vehicle market, particularly in energy storage systems.

Elong Power is known for its commitment to developing cutting-edge battery solutions, specifically tailored for electric vehicles and construction machinery. Each unit issued in this public offering is comprised of one Class A ordinary share and a common warrant to acquire additional shares, presenting a strategic opportunity for investors focused on the sustainable energy sector.

Upfront Investment and Future Plans

The funds raised from this offering will be utilized for general corporate purposes and to support working capital requirements. This financial influx is expected to foster the continued growth and innovation at Elong Power, reinforcing their dedication to research and development in high-energy battery solutions.

In addition to the core offering, Elong Power has also provided its underwriter a 45-day option to acquire up to an additional 3,255,000 Class A ordinary shares and/or further common warrants to accommodate any potential over-allotments. Shortly after the offering’s completion, the underwriter opted to partially exercise this option regarding the common warrants, showcasing a strong interest in Elong Power’s trajectory.

Strong Backing and Legal Framework

Maxim Group LLC served as the exclusive underwriter for this offering, ensuring that the process met all regulatory requirements under U.S. securities law. The legal framework was further facilitated by the guidance of Ortoli Rosenstadt LLP and Pryor Cashman LLP, acting as counsel to both the company and its underwriter, respectively.

A registration statement on F-1 was filed with the U.S. Securities and Exchange Commission (SEC), which confirmed the registration and validity of this public offering prior to its closure. The complete prospectus detailing the offering can be accessed on the SEC's website, providing potential investors with comprehensive information about the terms and conditions.

About Elong Power

Elong Power, created in the Cayman Islands, stands at the forefront of battery technology innovation. They specialize in the production of high-power lithium-ion batteries, ensuring energy-efficient solutions for electric vehicles and energy storage systems. Under the leadership of Chairwoman and CEO Ms. Xiaodan Liu, the company has developed a varied range of products tailored to meet the demands of both high-performance and long-cycle energy storage applications.

The company's diverse portfolio encompasses advanced technologies utilizing lithium manganese oxide and lithium iron phosphate, designed to satisfy the unique requirements of various operational scenarios in the energy landscape. Elong Power offers not only next-generation batteries but also full lifecycle services tailored for their products.

Looking Ahead

As Elong Power continues its upward trajectory, the company emphasizes its capacity for growth and innovation in an ever-evolving energy market. The public offering marks a significant milestone in its journey, providing the essential resources to fuel its developmental goals. With these strategies, Elong Power is enhancing its competitive edge in the battery technology landscape, promising exciting developments in the future. Investors and stakeholders are encouraged to monitor their progress as they strive for excellence in the ever-competitive energy sector.

Conclusion

The successful closure of this $7 million public offering signals not only confidence from the investment community but highlights Elong Power’s commitment to advancing battery technology. With robust market strategies in place, the company is well-positioned to exploit evolving opportunities within the energy sector, powering a sustainable future for society.