NeoVolta Sells 12,195,122 Shares at $2.05 in Offering Expected to Raise $25.0 Million
NeoVolta issued 12,195,122 common shares at $2.05 each on May 29, 2026, in an underwritten public offering led by Lake Street Capital Markets. The company expects net proceeds of approximately $23.5 million, which it plans to use for joint venture obligations, working capital and general corporate purposes. The issuance adds new shares that dilute existing holders, and the company also disclosed a non-binding letter of intent with an existing investor for about 1.1 GWh of utility-scale battery storage supply.
Key points
- 12,195,122 shares sold at $2.05 per share; underwriters hold a 30-day option for up to 1,829,268 more shares
- Net proceeds of approximately $23.5 million excluding any option exercise, after estimated offering expenses; underwriting discount is 6.0%
- Company agreed not to issue or sell additional shares for sixty days after May 27, 2026; executive officers and directors are also subject to lock-up agreements
- May 26, 2026 non-binding letter of intent with Infinite Grid Capital covering about 1.1 GWh across three initial projects; no purchase obligation until definitive agreements are signed
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 29, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.