Energy storage firm NeoVolta slides on $25 mln stock sale

NeoVolta

28/05/2026 13:16

** Battery energy storage systems maker NeoVolta's NEOV.O shares down 12.4% in premarket trading on Thurs to $2.26 after $25 mln follow-on priced
** Poway, California-based NEOV sells ~12.2 mln shares at $2.05
** Offering price is 20.5% discount to stock's last close
** Co, which has ~42.7 mln shares outstanding, intends to use net offering proceeds to fund joint venture obligations, for working capital and for general corporate purposes, per the prospectus
** Lake Street Capital Markets sole bookrunner
** NEOV shares fell 6.5% on Weds, extending YTD loss to 15%
     

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