Financing ·
Elong Power raises $3.26M via warrant inducement, cutting exercise price to $1.80 and issuing new warrants
ELPWElong Power Holding Ltd.
Elong Power Holding Limited entered into a warrant inducement agreement on November 5, 2026, with certain institutional investors to partially exercise existing warrants for an aggregate of 1,808,803 Class A ordinary shares. The company reduced the exercise price of these warrants from $3.80 to $1.80 per share, generating gross proceeds of approximately $3.26 million. In consideration for this immediate exercise, Elong Power issued new unregistered warrants to purchase up to 2,713,204 shares at an exercise price of $2.50 per share. The company intends to use the net proceeds for working capital and general corporate purposes. Maxim Group LLC acted as the exclusive financial advisor for the transaction.