Elong Power Holding Limited Pricing of $6.0 Million Offering Demonstrates Growth Potential

Elong Power Holding Limited Announces $6.0 Million Public Offering Pricing

On May 15, 2026, Elong Power Holding Limited (Nasdaq: ELPW) made a significant announcement regarding the pricing of its public offering aimed at raising $6 million. This initiative is vital for the company as it seeks to expand its research, development, and production capabilities related to lithium-ion battery energy storage systems.

The offering will consist of 4,615,500 units, each priced at $1.30. Each unit comprises one Class A ordinary share or a pre-funded warrant in lieu of a share, alongside a common warrant to purchase an additional Class A ordinary share. The expectations are that gross proceeds, after deducting necessary fees and expenses associated with this offering, will reach approximately $6 million.

The common warrants included in this offering will be immediately exercisable upon issuance at the initial exercise price of $1.30, reflecting the public offering price. These warrants will undergo adjustments for anti-dilution under certain conditions, such as share splits or corporate restructurings, and are set to expire three years post-issuance.

Closing of this offering is currently projected for May 18, 2026, pending the fulfillment of customary closing conditions outlined in the Securities Purchase Agreements. The proceeds raised will primarily cater to working capital needs, general corporate purposes, and further development of their products as well as expansion of production capacity.

Maxim Group LLC will serve as the sole placement agent during this offering process, while Ortoli Rosenstadt LLP and Pryor Cashman LLP will provide legal counsel for the company and placement agent, respectively. On May 14, 2026, the company's registration statement on Form F-1 was filed with the U.S. Securities and Exchange Commission (SEC) and has since been declared effective.

Elong Power is proactive in delivering reliable and innovative energy storage solutions and is navigating the dynamic landscape of the energy sector. As the global demand for efficient and sustainable energy solutions continues to rise, Elong Power's commitment to enhancing its lithium battery energy storage systems positions it well for future growth. While this offering serves as a significant milestone, the company's success will rely on its ability to meet expectations related to market conditions and shareholder value.

In a world increasingly focused on sustainability, Elong Power's initiatives highlight the importance of energy storage technologies. By refining their systems and expanding their reach both domestically in China and internationally, they aim to lead the way in providing energy storage solutions that are not only effective but also cost-efficient. As we await the results of this offering, the energy sector continues to watch Elong Power closely, anticipating their next moves in an era that is less dependent on traditional energy sources.

This announcement is purely for informational purposes and is not an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction where such an action would be unlawful. The company is focused on ensuring all activities adhere to local securities laws and guidelines.

In summary, Elong Power Holding Limited is committed to advancing its vision of providing intelligent and high-reliability energy storage systems globally. Led by CEO Xiaodan Liu, the company strives to leverage its strengths in research and development to capture growth opportunities in an ever-evolving market.