Electrovaya Inc. Sets Price for Oversubscribed $24.4M Public Offering

Electrovaya Inc., a leading battery technology company, has announced the pricing of its public offering of 4.7 million common shares at $5.20 per share. The offering is set to bring in approximately $24.4 million in gross proceeds, potentially rising to $28.1 million if the underwriters fully exercise their 30-day option for additional shares. The offering is managed by Oppenheimer & Co. Inc., alongside Raymond James Ltd., H.C. Wainwright & Co., and Roth Capital Partners.

The funds will be allocated towards energy services, next-gen battery research, and general corporate needs. Scheduled to close on November 6, 2025, the offering awaits customary closing conditions, including stock exchange listings. It follows a registration statement declared effective by the SEC and meets requirements under the Canada-U.S. Multijurisdictional Disclosure System.