Elong Power shares rise 10.32% after-hours following $7.6M public offering and partial over-allotment exercise.

Elong Power surged 10.32% in after-hours trading following the announcement of a $7.6 million public offering, which included aggressive warrant terms with automatic price resets. The offering, priced at $3.16 per unit, features warrants that reset to 50% of the initial price within eight days and a zero-exercise price option, signaling urgent capital needs and potential dilution. Despite these risks, the influx of liquidity likely spurred short-term optimism among traders, driving the after-hours rally. The move contrasts with earlier volatility and Nasdaq compliance issues, as the market focused on the immediate financing event.