E-Power Inc. (NASDAQ:EPOW) shares rose 11.14% to $4.19 in after-hours trading on Monday.
The China-based company, which primarily manufactures and sells graphite anode materials for lithium-ion batteries, closed the regular session at $3.77, down 12.12%, according to Benzinga Pro data.
Offering Puts Dilution in Focus
Last week, E-Power announced a securities purchase agreement with a non-U.S. investor for about $1.87 million in a registered direct offering.
The company agreed to sell 229,097 Class A ordinary shares at $3.60 each. It also agreed to sell pre-funded warrants for up to 292,393 shares at $3.59 each. The warrants are exercisable immediately at $0.01 per share.
E-Power said it will use net proceeds for working capital and general corporate purposes.
Florida-based investment bank FT Global Capital, Inc. is the exclusive placement agent.
Trading Metrics, Technical Analysis
E-Power has a market capitalization of $9.64 million, a 52-week high of $37 and a 52-week low of $3.44. The company has approximately 2.33 million shares outstanding.
The Relative Strength Index (RSI) of EPOW stands at 23.96.
The small-cap stock has declined 88.66% over the past 12 months.
The stock is currently trading near its 52-week low.
EPOW’s short interest stands at 8.3%.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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