Expion360 (NASDAQ: XPON), an industry leader in lithium-ion battery power storage solutions, has announced the closing of its registered direct offering and concurrent private placement with institutional investors. The company issued shares of common stock and pre-funded warrants in a registered direct offering. In a concurrent private placement, the company also issued to the same investors warrants to purchase common stock. Expion360 secured aggregate gross proceeds of approximately $2.6 million from both transactions, which were priced at the market under Nasdaq rules. Aegis Capital Corp. acted as exclusive placement agent for the offerings. Stradling Yocca Carlson & Rauth LLP acted as counsel to the company, and Kaufman & Canoles, P.C. acted as counsel to Aegis Capital Corp.
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About Expion360 Inc.
Expion360 is an industry leader in premium lithium iron phosphate (“LiFePO4”) batteries and accessories for recreational vehicles and marine applications, with residential and industrial applications under development. On Dec. 19, 2023, the company announced its entrance into the home energy storage market with the introduction of two premium LiFePO4 battery storage systems that enable residential and small business customers to create their own stable micro-energy grid and lessen the impact of increasing power fluctuations and outages. For more information, visit the company’s website at Expion360.com.
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