Energy storage firm NeoVolta drops on stock offering

NeoVolta

27/05/2026 21:43

** Maker of battery energy storage systems NeoVolta NEOV.O shares down 15.5% post-market to $2.18 as it seeks equity raise
** Poway, California-based NEOV commences offering of stock and pre-funded warrants without disclosing deal size
** Intends to use net offering proceeds to fund joint venture obligations, for working capital and for general corporate purposes, per the prospectus
** Co has ~42.7 mln shares outstanding for roughly $110 mln market cap
** Lake Street Capital Markets sole bookrunner for offering
** NEOV shares ended down 6.5% at $2.58 on Weds, down 15% YTD
     

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))