E-Power closes $16M private placement at $1.01 per share

E-Power Inc. (NASDAQ: EPOW) announced the closing of a private placement of 15,841,585 Class A ordinary shares at $1.01 per share, raising approximately $16.0 million in gross proceeds before offering expenses.

The company entered into a subscription agreement with a single non-U.S. investor on June 16, 2026, and the transaction closed on June 29, 2026. The shares were issued under Regulation S of the Securities Act of 1933 and have not been registered under that act. The transaction was approved by E-Power's board of directors.

The company stated that proceeds will be used for working capital, investments, and general corporate purposes, including its AI data center microgrid project pipeline in North America and its advanced battery materials programs.

"We believe that the closing of this US$16 million placement at US$1.01 per share reflects long-term confidence in E-Power's strategy and execution," said Haiping Hu, founder, CEO, and Chairman of E-Power Inc.

E-Power, based in Dover, describes itself as a provider of AI data center microgrid solutions and a manufacturer of graphite anode material for lithium-ion batteries. The company operates a production plant in Guizhou Province, China, through a joint venture.

You May Also Be Interested In

• Alphabet taps bond market with sweeping 10-part offering to fuel AI ambitions
• Charter Communications plans senior secured notes offering for Cox deal
• Creative Medical gets patent allowance for exosome-based T1D therapy