Elong Power Holding Limited announced the pricing of its registered offering of 16,500,000 units at an offering price of $0.40 per unit, with aggregate gross proceeds expected to be approximately $6.6 million. The offering is being conducted on a best efforts basis, and the closing is anticipated to occur on July 13, 2026, subject to customary closing conditions. The company intends to allocate the net proceeds toward working capital requirements, general corporate purposes, product iteration and development, and production capacity expansion.

Each Unit issued in the offering comprises one Class A ordinary share with a par value of $0.0128 per share and one common warrant to purchase one Class A ordinary share. The common warrants are immediately exercisable upon issuance at an initial exercise price of $0.40, which matches the public offering price per Unit. These warrants are subject to standard anti-dilution adjustments regarding share splits, combinations, dividend distributions, and other corporate restructurings. The warrants will expire three years from the issuance date.

Offering Details

The structure of the offering and the associated instruments are detailed below:

Elong Power Holding Limited is a provider focused on the R&D, sales, and scenario-oriented system solutions for lithium-ion battery energy storage systems. The securities purchase agreements and related transaction documents govern the terms of the offering, with placement agent fees and other expenses to be deducted from the gross proceeds.