Financing ·
Expion Energy Inc. (formerly Expion360 Inc.) entered into a private placement agreement on August 21, 2026, issuing…
XPONExpion Energy, Inc.
Expion Energy Inc. (formerly Expion360 Inc.) entered into a private placement agreement on August 21, 2026, issuing $9,000,000 in aggregate principal amount of 8% Convertible Debentures due August 21, 2029, along with warrants to purchase up to 2,117,219 shares of common stock at an initial exercise price of $4.25 per share. The company expects net proceeds of approximately $8,200,000 from the initial closing. Concurrently, Expion acquired all membership interests in a target company holding oil and gas exploration assets in Eastern Louisiana for an adjusted cash purchase price of $3,425,000. The company also appointed Kevin Sellers as Chief Executive Officer and to its Board, effective August 24, 2026, succeeding Joseph Hammer who resigned as CEO but remains interim Chairman. Additionally, the Company changed its corporate name from Expion360 Inc. to Expion Energy, Inc., effective August 20, 2026. The company operates in the energy storage and oil and gas exploration sectors.