eLong Power successfully closes public offering of 2.4 million units
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5d ago
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Should l Buy ELPW?
Source: Newsfilter
eLong Power Holding Ltd's stock rose by 8.26% as it crossed above the 5-day SMA, reflecting positive market sentiment.
The company successfully closed its public offering of 2.4 million units at a price of $3.16 per unit, generating approximately $7.6 million in gross proceeds intended for general corporate purposes and working capital. This move is expected to enhance the company's financial flexibility and market competitiveness, indicating strong market confidence in eLong Power's ongoing development in the electric vehicle and energy storage sectors.
The successful completion of this offering is likely to attract more investor participation and enhance shareholder value, positioning eLong Power favorably in the alternative energy market.
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Analyst Views on ELPW
About ELPW
eLong Power Holding Ltd is a holding company principally engaged in the research and development, manufacturing, sales and service of high-power lithium-ion batteries. The Company’s product portfolio includes products utilizing lithium manganese oxide and lithium iron phosphate, among others, to meet the needs of high-power applications and energy storage applications in various scenarios. The Company’s products are used for electric vehicles and construction machinery, as well as large-capacity, long-cycle lithium-ion batteries for energy storage systems.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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