Elong Power Shares Collapse After Company Prices $7.6M Unit Offering
Elong Power Holding Ltd (NASDAQ: ELPW) saw its shares fall 91.6% on Monday following the announcement that it priced an underwritten public offering of 2.4 million units at $3.16 per unit. The placement is expected to raise approximately $7.6 million in gross proceeds before underwriting discounts and expenses. Each unit contains one Class A ordina…