Welcome to our dedicated page for Expion360 news (Ticker: XPON), a resource for investors and traders seeking the latest updates and insights on Expion360 stock.
Expion360 Inc. (Symbol: XPON) specializes in the design, assembly, manufacturing, and sales of advanced lithium iron phosphate (LiFePO4) batteries, along with supporting accessories. The company's primary focus is on recreational vehicles (RVs) and marine applications. They are renowned for their minimal-footprint batteries, providing more power for their size compared to other market alternatives.
Expion360’s innovative product line includes the Next Gen Group 27 and GC2 Series Batteries featuring proprietary Vertical Heat Conduction™ Technology, which meets the diverse needs of customers. Notably, these batteries offer exceptional flexibility and enhanced heating efficiency.
With plans to expand into the home energy storage and industrial sectors, Expion360 is poised to capture a broader market share. The company is committed to delivering high-quality and reliable energy storage solutions, which has earned them a solid reputation in the industry.
In recent developments, Expion360’s revenue for the year ended December 31, 2023, totaled $6.0 million, a 16.5% decrease from the previous year. This decline was primarily due to reduced demand in the consumer market, affecting OEM sales. Despite this, the company remains optimistic about future growth driven by continuous innovation and customer demand.
Expion360 has also announced new strategic initiatives and partnerships to enhance product availability. Their lithium batteries and accessories are now available online to customers across 49 states, broadening their market reach.
For more information, contact Brian Schaffner, CEO, at 541-797-6714 or via email. External investor relations are managed by Chris Tyson, Executive Vice President, MZ Group - MZ North America, reachable at 949-491-8235 or XPON@mzgroup.us.
Aegis Capital Corp. has successfully acted as the Sole Bookrunner for a $10 Million Underwritten Public Offering for Expion360 Inc. (NASDAQ:XPON). Expion360 is a company specializing in the design, assembly, manufacture, and sale of lithium iron phosphate batteries and related accessories under the VPR 4EVER brand. The company's product range includes battery monitors, chargers, industrial tie-downs, power generators, and the e360 SmartTalk mobile application. Expion360's products cater to various applications, including recreational vehicles, marine, golf, home energy storage, industrial, residential, and off-the-grid uses. The company serves dealers, wholesalers, private label customers, and OEMs in the United States and internationally.
Expion360 Inc. (Nasdaq: XPON), a lithium-ion battery power storage solutions company, has closed a $10 million underwritten public offering. The offering consists of 50,000,000 Common Units or Pre-Funded Units, each priced at $0.20 or $0.199 respectively. Each unit includes common stock or pre-funded warrants, two Series A warrants, and one Series B warrant. Aegis Capital Corp. acted as the Sole Bookrunner and partially exercised its over-allotment option.
The company plans to use the net proceeds to repay approximately $3.4 million in outstanding debt, including $0.7 million to stockholders and $2.7 million to 3i, LP. The remaining funds will be used for working capital and general corporate purposes. The offering closed on August 8, 2024, subject to customary closing conditions.
Expion360 Inc. (Nasdaq: XPON), a lithium-ion battery power storage solutions company, has announced the pricing of a $10 million underwritten public offering. The offering consists of 50,000,000 Common Units or Pre-Funded Units at $0.20 and $0.199 per unit, respectively. Each unit includes common stock or pre-funded warrants, two Series A warrants, and one Series B warrant.
The company plans to use the net proceeds to repay approximately $3.4 million in outstanding debt and for working capital. The offering is expected to close on August 8, 2024. Aegis Capital Corp. is acting as the Sole Bookrunner and has a 45-day option to purchase additional securities to cover over-allotments.
Expion360 Inc. (XPON) has announced a partnership with K-Z Recreational Vehicles, a subsidiary of Thor Industries, to integrate Expion360's advanced lithium battery technology into K-Z RV's premium offerings. The collaboration aims to enhance the off-grid capabilities of K-Z RV's vehicles.
Key points:
- K-Z RV's Boondocker package will include three Expion360 51.2V 60Ah Edge VHC heated batteries, with an option for a fourth.
- The system features integration with Victron's Cerbo GX for real-time communication with Expion360's battery management system.
- K-Z RV will offer two of Expion360's new Group 27 100Ah VHC Heated batteries as an option in their Off the Grid solar package.
- The battery upgrades will be available in Durango, Durango Gold, and Durango Half-Ton models.
Expion360 (Nasdaq: XPON), a leader in lithium-ion battery storage solutions, will participate in the Noble Capital Virtual TMT Conference from June 26-27, 2024. CEO Brian Schaffner will present on June 26 at 11:30 am ET/8:30 am PT, discussing the company's new products like the Edge™ battery, next-gen Group 27 and GC2 series batteries, and Home Energy Storage Solutions. The company will also highlight its new online retail partnership with Tractor Supply Company. The presentation and one-on-one meetings will be accessible via the Expion360 investor relations website.
Expion360 (Nasdaq: XPON) has announced a new e-commerce partnership with Tractor Supply Company. This collaboration will make Expion360’s lithium-ion batteries and accessories available online to customers in 49 states starting June 2024. Tractor Supply, the largest rural lifestyle retailer in the US, operates over 2,200 stores and offers a variety of products for automotive, RV, camper, and marine applications. Expion360’s offerings will include Group 24 and Group 27 batteries, the Aura Power Cap, and a portable solar bundle. CEO Brian Schaffner highlighted the partnership as a significant growth opportunity, enhancing Expion360’s market presence and making their advanced battery technology accessible to a broader audience.
Expion360 reported its Q1 2024 financial results, highlighting a revenue of $1.0 million, up 13% sequentially from Q4 2023, but down 35.5% year-over-year. The net loss increased to $2.2 million from $2.0 million in the prior year, driven by new product development and launches.
Key developments include substantial preorders for new Group 27 and GC2 batteries featuring proprietary Vertical Heat Conduction™ technology, the launch of Edge™ battery, and UL 1973 compliance for 450Ah EX1 batteries. The company also detailed future strategic partnerships and product expansions for various sectors, including home energy storage solutions.
CEO Brian Schaffner emphasized the company's innovation and expansion efforts across multiple market segments. Cash reserves totaled $2.3 million, with additional financing commitments of up to $22.5 million to support ongoing initiatives.
Expion360 Inc. (Nasdaq: XPON) announced the launch of the Edge™ LiFePO4 battery designed for off-grid power storage solutions. With a slim form factor and Vertical Heat Conduction™ technology, the Edge offers flexibility for various applications. It features real-time monitoring capabilities, modular design for easy expansion, and is equipped with Integrated SmartTalk™ Bluetooth and CAN Bus communication. The battery is now available for preorder, with shipments starting in the third quarter of 2024.
Expion360 Inc. (Nasdaq: XPON) will host a conference call on May 14, 2024, to discuss its financial results for the first quarter of 2024, led by CEO Brian Schaffner and CFO Greg Aydelott. The call will include details on ongoing initiatives and anticipated milestones for 2024. A press release will precede the call, and a webcast with a presentation will be available. Access details include dial-in information and a webcast link for investors. A telephone replay and access to the presentation will be available post-call.
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