Expion360 (NASDAQ: XPON), a lithium-ion battery power storage solutions company, has closed on a firm commitment underwritten public offering. According to the announcement, the offering is estimated to result in $10 million gross proceeds before standard deductions. The offering is comprised of 50,000,000 common units or prefunded units, with each unit consisting of one share of XPON common stock or one prefunded warrant to purchase one share of common stock, two Series A warrants each to purchase one share of common stock, and one Series B warrant to purchase such number of shares of common stock as determined in the Series B warrant.
Expion360 anticipates using the funds from the offering to fully repay its outstanding debt as well as for working capital and general corporate purposes.
Aegis Capital Corp. acted as sole bookrunner for the offering. Expion360 granted Aegis Capital a 45-day option to purchase additional shares of common stock and/or prefunded warrants and/or common warrants solely to cover overallotments, if any.
To view the full press release, visit https://ibn.fm/PbevD
About Expion360 Inc.
Expion360 designs, assembles, manufactures and sells lithium iron phosphate (LiFePO4) batteries and supporting accessories for recreational vehicles, marine applications and home-energy storage products with plans to expand into industrial applications. For more information about the company, visit www.Expion360.com.
About InvestorWire
InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer
InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
[email protected]
InvestorWire is powered by IBN