Business
Expion360, Inc. Announces Full Exercise of Over-Allotment Option for Initial Public Offering
REDMOND, OR / ACCESSWIRE / April 8, 2022 / Expion360, Inc. (NASDAQ:XPON), an industry leader for lithium batteries and accessories for recreational vehicles,
About this update from Expion360 Inc.
[{"type":"text","content":"REDMOND, OR / ACCESSWIRE / April 8, 2022 / Expion360, Inc. (NASDAQ:XPON), an industry leader for lithium batteries and accessories for recreational vehicles, outdoor, marine, residential, and industrial, announced today that the underwriters of its recently completed initial public offering of common stock have fully exercised their option to purchase an additional 321,750 shares at the public offering price of $7.00 per share, resulting in additional gross proceeds of $2,252,250.After giving effect to the full exercise of the over-allotment option, the total number of shares sold by Expion360 in the public offering increased to 2,466,750, resulting in total gross proceeds of $17,267,250 before underwriting discounts and commissionsAlexander Capital acted as sole book-running manager the offering, with Paulson Investment Company acted as co-manager.A copy of the final prospectus related to the offering may be obtained from Alexander Capital, LP, 17 State Street 5th Floor, New York, NY 10004, Attention: Equity Capital Markets, or by calling (212) 687-5650 or emailing [email protected] press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.The law office of Rowland Day, Bigfork, Montana, and Dane Johansen of Parr Brown Gee & Loveless, Salt Lake City, Utah served as legal counsel for Expion360 in connection with the stock offering. Richard Friedman and Greg Carney of Sheppard Mullin Richter and Hampton served as legal counsel for the underwriters.About Expion360Expion360 is an industry leader of premium lithium batteries and accessories for recreational vehicles, outdoor, marine, residential, and industrial. The company sources, assembles and white-labels components and finished products. Its 360 (12V/360Ah) is 3.5x the capacity of average RV battery and is unique in form factor. Founded in 2016 by the company's CEO, John Yozamp, Expion360 designs and engineers its batteries out of its headquarters in Redmond, Oregon. For more information visit, expion360.com.Forward-Looking Statements and Safe Harbor NoticeAll statements other than statements o...