Elong Power Holding Limited Completes $7.0 Million Public Offering

On February 27, 2026, Elong Power Holding Limited (NASDAQ: ELPW) revealed the successful conclusion of its underwritten public offering, selling 21,700,000 Units in total on a firm commitment basis, settling at US$0.3231 per Unit. Each Unit comprises one Class A ordinary share, with a par value of US$0.00016 per share, and one common warrant. These common warrants can be exercised for three years from the date of issuance at a price of US$0.3231 per share, and there is an option for holders to convert each warrant for twice the number of shares available for cash exercise.

The underwriter was given a 45-day option to acquire an additional 3,255,000 Class A ordinary shares and/or 3,255,000 common warrants to address any over-allotment issues. A partial exercise of this option, specifically for 3,255,000 Common Warrants, was carried out on February 27, 2026. Elong Power Holding Limited amassed a total of approximately US$7.0 million in gross proceeds through this offering, before expenses and underwriting discounts, which will be allocated towards general corporate purposes and working capital.

Maxim Group LLC functioned as the exclusive underwriter for the offering. Legal representation in the United States was provided by Ortoli Rosenstadt LLP for Elong Power Holding Limited and Pryor Cashman LLP for the underwriter. To comply with U.S. regulations, a registration statement on F-1 (File No. 333-293527) was filed with the U.S. Securities and Exchange Commission (“SEC”) and was deemed effective on February 25, 2026. The Offering was conducted solely through a prospectus that was part of the registered statements.

The successful closure of the offering signifies a significant milestone for Elong Power Holding Limited, demonstrating investor confidence in the company’s growth trajectory and future prospects. Through strategic financial decisions and effective use of capital, the Company is poised to reinforce its presence in the market and capitalize on emerging opportunities within the high-power battery technologies sector.

With the completion of this public offering, Elong Power Holding Limited showcases its commitment to innovation and sustainable growth in the renewable energy market. The substantial interest from investors underscores the strong value proposition that the company offers and reinforces its position as a key player in the alternative energy vehicles and energy storage systems domain.

Overall, Elong Power Holding Limited’s successful public offering cements its standing as a forward-thinking and dynamic firm within the alternative energy sector. The capital raised will enable the company to pursue strategic initiatives, drive innovation, and continue developing cutting-edge solutions to meet the evolving needs of the industry and its customers.