Elong Power Holding Limited Closes US$6.6 Million Public Offering
Elong Power Holding Limited, a provider of lithium-ion battery energy storage systems, announced the closing of its public offering, raising approximately US$6.6 million in gross proceeds.
BEIJING, July 13, 2026 – Elong Power Holding Limited has announced the completion of its previously announced public offering. The company raised approximately US$6.6 million in gross proceeds before deducting placement agent fees and other offering-related expenses.
The offering consisted of 16,500,000 units, each priced at US$0.40. Each unit includes one Class A ordinary share of the company (or a pre-funded warrant) and one common warrant to purchase a Class A ordinary share at an exercise price of US$0.40. The warrants are exercisable immediately and will expire three years after issuance.
Elong Power intends to use the net proceeds from this offering for working capital requirements, general corporate purposes, and to fund further product development and expansion of production capacity. Maxim Group LLC served as the sole placement agent for the offering. The company's registration statement for the offering was declared effective by the U.S. Securities and Exchange Commission on July 9, 2026.
Elong Power Holding Limited, headquartered in China, focuses on the research, development, sales, and system solutions for lithium-ion battery energy storage systems. The company is listed on Nasdaq under the ticker symbol ELPW.