Elong Power Holding Limited Successfully Prices Public Offering of $7.6 Million

Elong Power Holding Limited Announces Pricing of Public Offering

Elong Power Holding Limited, a leading provider of high-power battery technologies, has successfully priced its underwritten public offering of 2,400,000 units at $3.16 per unit, totaling approximately $7.6 million in gross proceeds. This announcement, made on February 2, 2026, marks a significant step forward for the company as it seeks to expand its operations and enhance its production capacities.

Details of the Offering

The offering consists of Class A ordinary shares, each priced at $3.16, or pre-funded warrants that can be exercised for one Class A share. Additionally, each unit includes a common warrant that allows investors to purchase one Class A ordinary share, valid for three years following the issuance date. Notably, the common warrants may be exercised in a unique manner, allowing holders to acquire twice the number of shares without additional payment, thus providing increased flexibility.

The closing of the offering is expected to take place on February 3, 2026, pending customary closing conditions. Elong Power plans to utilize the funds raised for various strategic initiatives:
1. General Corporate Purposes: A portion of the funds will aid in improving the company's working capital, ensuring continuity in operations and strategic growth.
2. Sales Network Expansion: The proceeds will facilitate the hiring of sales personnel and the development of regional sales channels, aiming to enhance market reach and customer engagement.
3. Production Capacity: The company intends to invest in expanding its production capabilities by procuring new equipment and upgrading its manufacturing facilities to meet growing demand for energy storage solutions and electric vehicle batteries.

Strategic Partnerships

Maxim Group LLC serves as the exclusive underwriter for this offering, with Ortoli Rosenstadt LLP acting as the company's U.S. securities counsel. The collaborative effort underscores Elong Power's commitment to transparency and regulatory compliance as evidenced by the registration statement filed with the U.S. Securities and Exchange Commission (SEC), which was declared effective on January 29, 2026.

About Elong Power

Founded and led by Ms. Xiaodan Liu, Elong Power specializes in the R&D, manufacturing, sales, and services of high-power lithium-ion batteries. The company targets electric vehicles, construction machinery, and large-scale energy storage systems. Elong Power's technology encompasses a broad spectrum of product offerings, showcasing lithium manganese oxide and lithium iron phosphate batteries, which are essential for both high-power applications and energy storage.

The company is dedicated to sustainability and innovation and aims to position itself as a leader within the rapidly evolving energy market.

Looking Ahead

As Elong Power embarks on this public offering journey, potential investors are encouraged to stay informed of the company's progression and be mindful of the inherent risks associated with investments in emerging technologies. The growth trajectory of Elong Power is contingent upon various factors, including market conditions, regulatory changes, and competitive dynamics.

Investors interested in specific details about the public offering can review the forthcoming final prospectus, available on the SEC's website, which will provide comprehensive insights into this compelling investment opportunity.

This announcement serves not only as a report of financial activity but as a reflection of Elong Power's strategic vision for the future, underscoring its commitment to delivering advanced battery technologies that are crucial for the evolution of sustainable energy.