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On August 14, 2025, in order to raise cash proceeds and simplify its capitalization structure, Expion360 Inc. (the "Company") entered into an inducement offer letter agreement (the "Inducement Letter") with (a) the holders of a substantial majority of the Company's existing outstanding Series A warrants (the "August Series A Warrants") to purchase shares of the Company's common stock, par value $0.001 per share ("Common Stock"), issued on August 8, 2024, as described in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on August 8, 2024; and (b) all of the holders of the Company's existing outstanding warrants (the "January Warrants") to purchase shares of Common Stock, issued on January 3, 2025, as described in the Company's Current Report on Form 8-K filed with the SEC on January 3, 2025. The Series A Warrants became exercisable on September 30, 2024 and can be exercised until September 30, 2029. The January Warrants were immediately exercisable upon issuance and can be exercised until January 3, 2030.
Pursuant to the Inducement Letter, in exchange for the simultaneous exercise of the August Series A Warrants or January Warrants, as applicable, the Company reduced the exercise price of the August Series A Warrants and of the January Warrants from $5.206 per share and $2.36 per share, respectively, to $1.31 per share.
Posted In: XPON
