NeoVolta Inc. (NASDAQ: NEOV) announced the pricing of a public offering of 12,195,122 shares of common stock at $2.05 per share. The energy storage technology company expects to receive approximately $25 million in gross proceeds before underwriting discounts and other expenses.

The San Diego-based company also granted the underwriter a 30-day option to purchase up to an additional 1,829,268 shares at the same price, less underwriting discounts and commissions. The offering is scheduled to close on May 29, 2026, subject to customary closing conditions.

Lake Street Capital Markets, LLC is serving as the sole book-running manager for the offering. The securities are being sold under an effective shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission on June 21, 2024, and declared effective on June 28, 2024.

NeoVolta develops energy storage solutions for residential, commercial, and utility applications. The company focuses on scalable technology and domestic manufacturing to support energy infrastructure.

The information is based on a company press release statement.