The company issued 16.5 million units at a price of $0.40 each. These units consist of one Class A ordinary share, or a pre-funded warrant, paired with a common warrant. These warrants allow holders to purchase additional shares at an exercise price of $0.40, remaining valid for three years from the issuance date.
Elong Power Secures $6.6 Million in Public Offering
Beijing-based energy storage provider Elong Power Holding Limited has finalized a public offering, raising approximately $6.6 million in gross proceeds. The capital injection arrives as the company targets further development of its lithium-ion battery systems and looks to expand its production capacity in the competitive energy storage sector.
Elong Power, led by CEO Xiaodan Liu, intends to deploy these funds toward general corporate needs and working capital, alongside ongoing product iteration and facility scaling. Maxim Group LLC served as the sole placement agent for the transaction, which was completed following a registration statement declared effective by the U.S. Securities and Exchange Commission on July 9, 2026.
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