New York, Jan 31, 2026, 05:01 EST — Market closed.
- Shares ended Friday at $13.94, soaring 3,141%, before dropping to roughly $3.46 in after-hours trading
- Late Thursday, the U.S. Securities and Exchange Commission declared the company’s F-1 registration statement effective
- Traders are gearing up for Monday, focused on the pricing and closing details of the planned unit-and-warrant offering
Shares of Nasdaq-listed Elong Power Holding Limited surged to $13.94 by Friday’s close, marking a staggering 3,141% gain in a single day. After-hours trading saw the price retreat to around $3.46. More than 16 million shares changed hands, per market data. (StockAnalysis)
The stock swung sharply after regulators pushed the company closer to issuing new securities. The SEC confirmed the firm’s Form F-1 registration statement became effective at 5:00 p.m. on Jan. 29. (SEC)
The prospectus reveals a sale of 6,666,666 units, or “pre-funded” units, each pairing one Class A ordinary share with a common warrant—giving buyers the option to purchase more shares later—underwritten by Maxim Group LLC. Pricing will be based on the “Nasdaq Official Closing Price” right before the underwriting agreement is signed. The company aims to wrap up the deal within two trading days after sales kick off. The filing also outlines warrant terms that could adjust pricing and increase the number of shares issued. (Quotemedia)
Friday’s trading was volatile well before the after-hours slide. According to data from Investing, shares fluctuated between $0.40 and $15.27, after closing at $0.43 the day before. The company’s market cap stood near $58.6 million following the regular session.
Investors found little else to latch onto when explaining the move. The company’s investor site hasn’t posted any press releases since July 2025, so it’s mostly SEC filings and trading activity driving the narrative. (Elong Power InvestorRoom)
An F-1 is a registration statement that foreign issuers file to sell securities in the U.S. After it becomes effective, the issuer can begin selling the registered shares and warrants. “Pre-funded” units usually have buyers paying nearly the full price upfront, with a small balance exercised later.
Elong Power produces high-power lithium-ion batteries designed for electric vehicles and construction equipment. The company also offers longer-cycle batteries tailored for energy storage systems, plus battery management systems and other related parts. (Elong Power InvestorRoom)
Chief Executive Officer Xiaodan Liu heads the company, according to its investor relations site. (Elong Power InvestorRoom)
The deal structure works both for and against. While a pending offering can lure momentum traders, the threat of fresh supply—and warrants that could boost the share count down the line—often triggers sharp pullbacks, particularly in lightly traded small caps.
By late Friday, Elong Power had slipped sharply in after-hours trading, topping StockAnalysis.com’s list of biggest decliners with a roughly 75% drop from the regular-session close. (StockAnalysis)
U.S. markets remain closed until Monday, Feb. 2. Traders are now focused on the upcoming filing that will reveal final pricing, closing details, and any disclosures clarifying dilution and cash proceeds from the unit-and-warrant sale.
