#China #Beijing #Public Offering #battery technology #Elong Power

Elong Power Holding Limited Completes $7.6 Million Public Offering

Date: February 3, 2026
Location: Beijing

Elong Power Holding Limited (Nasdaq: ELPW), renowned for its advanced battery technologies dedicated to commercial and specialized alternative energy vehicles, has recently concluded a public offering, raising a substantial total of $7.6 million. This strategic move underscores the company's commitment to enhancing energy storage solutions through high-power battery technologies.

The public offering was structured as an underwritten issue of 2,400,000 units priced at $3.16 per unit. Each of these units includes one Class A ordinary share, with a nominal value of $0.00016 per share, along with one common warrant, which grants holders the right to purchase one Class A ordinary share at the same price as the offering.

These warrants, designed with a three-year expiration, can be exercised immediately after issuance, reflecting a straightforward approach for investors. The exercise price remains set at $3.16, although it is subject to adjustments on February 9, 2026, and February 13, 2026, reducing by increments to 70% and 50%, respectively. Notably, a zero-cash exercise option is available allowing investors to swap each warrant for double the shares they could have acquired through a cash exercise.

In addition, Elong Power has provided its underwriter a 45-day option to acquire an additional 360,000 shares or warrants. The underwriter took early action, partially exercising this option, gaining 242,270 common warrants on February 2, 2026. The net revenue from this offering before fees and discounts is anticipated to bolster Elong Power's operational and working capital needs significantly.

Elong Power's Vision and Future
The company plans to leverage the proceeds from this public offering to further its corporate objectives and expand its capacity in the energy sector. The proceeds are earmarked for general corporate purposes, an investment that aims to enhance its position in the marketplace.

Elong Power, incorporated in the Cayman Islands, specializes in the development and sales of high-powered lithium-ion batteries tailored for both electric vehicles and large-scale energy storage systems. Under the visionary leadership of Xiaodan Liu, Chairwoman and CEO, Elong Power continues to innovate within this rapidly evolving field. The comprehensive product lineup includes high-capacity batteries utilizing lithium manganese oxide and lithium iron phosphate technologies, effectively addressing the growing demand for efficient energy solutions across various industries.

Regulatory Compliance
The transaction was facilitated under a registration statement filed with the U.S. Securities and Exchange Commission (SEC), with the effective registration noted on January 29, 2026. Interested parties can access the final prospectus via the SEC’s official website at www.sec.gov.

This announcement represents a crucial milestone in Elong Power's journey, one that sets the stage for future growth and potential market expansion. However, it’s essential to note that forward-looking statements are inherently uncertain and depend heavily on various market factors and regulatory environments, reminding investors to exercise caution and conduct thorough research.

Investor Relations Contact
For further inquiries regarding this offering or the company, please direct communications to Elong Power Investor Contact, available through their official channels.

Elong Power is poised to develop advancements in sustainable technology, meeting the urgent needs of energy efficiency and storage, while also driving innovation in battery technology that supports various applications within the energy sector.