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Elong Power Holding Prices $6.6 Million Public Offering

10.07.2026 15:461,9700
Elong Power Holding Prices $6.6 Million Public Offering

Elong Power Holding Limited, a Beijing-based developer of lithium-ion battery energy storage systems, has priced a public offering of 16.5 million units at $0.40 per unit. The transaction, expected to close on July 13, 2026, aims to raise gross proceeds of approximately $6.6 million for the company’s expansion.

Each unit in the offering includes one Class A ordinary share—or a pre-funded warrant—and a common warrant to purchase an additional share. These warrants are exercisable immediately at $0.40 and are set to expire in three years. The capital raised will support working capital needs, general corporate operations, product development, and the scaling of production capacity.

Maxim Group LLC is serving as the sole placement agent for the transaction. The offering follows an effective registration statement filed with the U.S. Securities and Exchange Commission on July 9, 2026. The company, which is led by CEO Xiaodan Liu, maintains a strategic focus on residential, commercial, and industrial energy storage solutions across global markets.

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