Eco Wave Power raises $4M in direct offering priced at premium

Eco Wave Power Global AB (NASDAQ: WAVE) announced the pricing of a registered direct offering of 400,000 American Depositary Shares at $10.00 per ADS, representing a 10.7% premium to the last Nasdaq closing price, with expected gross proceeds of $4.0 million before placement agent fees and expenses.

The offering is with a single institutional investor. Each ADS represents eight common shares of the company. The investor will also receive warrants to purchase 300,000 ADSs at an exercise price of $12.00 per ADS, a 32.9% premium to the last Nasdaq closing price. The warrants are exercisable immediately upon issuance and expire three years from the date of issuance.

Maxim Group LLC is acting as sole placement agent. The offering is expected to close on or about June 26, 2026, subject to customary closing conditions.

According to the company's statement, net proceeds are intended to support global expansion and further development of its wave energy technology. The offering is being made under an effective shelf registration statement on Form F-3 previously declared effective by the U.S. Securities and Exchange Commission on December 6, 2023.

Eco Wave Power operates onshore wave energy stations, including a grid-connected station in Israel and a pilot station at the Port of Los Angeles. The company has projects planned in Portugal, Taiwan, and India, representing a stated pipeline of 404.7 megawatts.

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