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Lithium battery maker Expion360 sets IPO terms 5 months 2 days ago #834

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By Val Kennedy,

Lithium battery maker Expion360 (XPON) said it intends to raise around $18M through an initial public offering amid heightened investor interest in green energy solutions.


The Oregon-based company said in a filing that it plans to offer 2.2M shares priced in the range of $7 to $9 per share. Underwriters will be given an option to purchase up to 323K additional shares to cover any overallotments.

Expion360 plans to list its shares on Nasdaq under the symbol XPON. Paulson Investment and Alexander Capital are serving as joint bookrunners.

The company said it expects to receive net proceeds of around $15.3M from the deal, if the underwriter’s option is exercised in full and shares are priced at $8 per share.

Expion360 manufactures and markets lithium iron phosphate battery packs and accessories for RVs and boats. The company sees its products as a greener alternative to the lead acid batteries currently used for those vehicles as they offer greater energy storage capacity.

The company sells its battery solutions through RV and marine retailers. Expion360 added that it plans to expand into the home energy storage and industrial markets.

For 2021, Expion360 reported a net loss of $4.7M on revenue of $4.5M. Expion360 first filed to hold an IPO in January 2021.

Source : preiposwap.com/lithium-battery-maker-exp...een-energy-solutions
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Lithium battery maker Expion360 sets IPO terms 5 months 2 days ago #835

Expion360 designs, assembles, manufactures, and sells lithium iron phosphate for use in RVs and boats. The company currently has over 175 customers, including dealers, wholesalers, and equipment manufacturers. Expion360 plans to expand into the home energy storage space with its e360 Home Energy Storage under development, and also plans to expand into industrial applications.

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Lithium battery maker Expion360 sets IPO terms 5 months 2 days ago #836

Expion360 was founded in 2016 and booked $5 million in sales for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol XPON. Paulson Investment and Alexander Capital are the joint bookrunners on the deal.

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