A Discounted $6M Offering Sends ELPW Stock Crashing 52% – But Retail Confidence Remains Intact

• The price represented a 33% discount to the stock’s closing level on Thursday.
• Elong Power announced that certain foreign private issuers have offered to sell up to 1.43 million units at $5.59 per unit earlier this week.
• The stock is on track for a sixth straight day of losses and has collapsed nearly 89% during the period.

Shares of Elong Power Holding (ELPW) tanked 52% on Friday following the company’s heavily discounted public offering to raise $6 million.

ELPW shares have been caught in a brutal sell-off in recent sessions, with the stock on track for a sixth straight day of losses and has collapsed nearly 89% over the stretch. This, however, is the stock’s biggest single-day slump since a reverse split became effective on March 10, 2026.

ELPW’s $6M Offering Comes At A 33% Discount

Elong Power announced pricing for a public offering of 4.6 million units at $1.30 per unit, aiming to raise approximately $6 million in gross proceeds. This represented a nearly 33% discount from its closing price on Thursday.

Each unit includes one Class A ordinary share, or, in its place, a pre-funded warrant, along with one common warrant to buy an additional share. The common warrants will be exercisable immediately at $1.30 per share and will remain valid for three years.

The offering is expected to close on May 18, 2026.

This comes after Elong Power recently announced that certain foreign private issuers have offered to sell up to 1.43 million units at $5.59 per unit, based on the stock’s closing price on May 6, 2026. According to the SEC filing dated May 12, the company said each unit includes one Class A ordinary share and one warrant to purchase an additional share.

Retail Sees Reversal Ahead

Retail sentiment on Stocktwits remained in the ‘bearish’ territory over the past 24 hours, but chatter was largely bullish.

One user expects the stock to climb back over $5 next week.

Another user said they would ride out the wave.

Read also: AARD Stock Crashes 34% – Here’s Why This Analyst Finds It ‘Hard To Lean Into’ Aardvark At This Stage 
 

For updates and corrections, email newsroom[at]stocktwits[dot]com.