Expion360 Inc (XPON)

[georgie18]

XPON...$1.37...🥳... https://schrts.co/JgHiNaNu ...Green Candle tomorrow create a Bullish Morning Star Reversal Pattern...

REDMOND, Ore., Jan. 03, 2025 (GLOBE NEWSWIRE) -- Expion360 Inc. (Nasdaq: XPON) (the “Company”), an industry leader in lithium-ion battery power storage solutions, today announced the closing of its previously announced registered direct offering and concurrent private placement with institutional investors. The Company issued shares of Common Stock and pre-funded warrants (“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 (the “Warrants”). Aggregate gross proceeds to the Company from both transactions were approximately $2.6 million. The transactions closed on January 3, 2025. The transactions were priced at the market under Nasdaq rules.

The transactions consisted of the sale of 1,048,386 shares (each a “Share”) of Common Stock or Pre-Funded Warrants to purchase one share of Common Stock, each of which was sold together with one Warrant to purchase one share of Common Stock per Warrant at an exercise price of $2.36. The offering price per Share was $2.48 (or $2.479 for each Pre-Funded Warrant, which is equal to the offering price per Share minus an exercise price of $0.001 per Pre-Funded Warrant). The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until exercised in full. For each Pre-Funded Warrant sold in the offering, the number of Shares in the offering will be decreased on a one-for-one basis.

The Company expects to use the net proceeds from the offerings, together with its existing cash, for general corporate purposes and working capital. The Company also intends to use $500,000 of the net proceeds from the offering to satisfy a portion of certain amounts owed to the Company’s Series A warrant holders pursuant to the terms of such warrants.