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SAN DIEGO, July 27, 2022 (GLOBE NEWSWIRE) — NeoVolta, Inc. (“NeoVolta” or the “Firm”) (NASDAQ: NEOV, NEOVW), producer of Good Vitality Storage Options, right this moment introduced the pricing of its underwritten public providing of 975,000 models at a worth to the general public of $4.00 per unit. Every unit issued within the providing consists of 1 share of frequent inventory and one warrant to buy one share of frequent inventory at an train worth of $4.00 and an expiration date of 5 years from the date of issuance. The frequent inventory and warrants are instantly separable and will likely be issued individually. The frequent inventory and warrants are anticipated to start buying and selling on the Nasdaq Capital Market on July 28, 2022, below the symbols “NEOV” and “NEOVW,” respectively. NeoVolta expects to obtain gross proceeds of $3.9 million, earlier than deducting underwriting reductions and commissions and different estimated providing bills.

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NeoVolta has granted the underwriters a 45-day choice to buy as much as an extra 146,250 shares of frequent inventory and/or an extra 146,250 warrants on the public providing worth to cowl over-allotments, if any. The providing is predicted to shut on August 1, 2022, topic to customary closing situations.

Maxim Group LLC is performing as sole book-running supervisor for the providing.

A registration assertion on Type S-1 (File No. 333-264275) referring to this providing was filed with the Securities and Change Fee (“SEC”) and was declared efficient by the SEC on July 27, 2022. The providing and sale of those securities could also be made solely by way of a prospectus. A closing prospectus referring to the providing will likely be filed with the SEC and will likely be obtainable on the SEC’s web site at http://www.sec.gov. Digital copies of the ultimate prospectus referring to this providing, when obtainable, could also be obtained from Maxim Group LLC, 300 Park Avenue, 16th Ground, New York, New York 10022, at (212) 895-3745. 

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This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase these securities, nor shall there be any sale of those securities in any state or jurisdiction through which such provide, solicitation or sale can be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.

About NeoVolta:

NeoVolta designs, develops, and manufactures utility-bill lowering residential vitality storage techniques able to powering your private home even when the grid goes down. With a give attention to safer Lithium-Iron Phosphate (LiFe(PO4)) chemistry, the NV14 is supplied with a photo voltaic rechargeable 14.4 kWh battery system, a 7,680-Watt inverter and a web-based vitality administration system with 24/7 monitoring. By storing vitality as a substitute of sending it again to the grid, shoppers can shield themselves towards blackouts, keep away from costly peak demand electrical energy charges charged by utility corporations when photo voltaic panels aren’t producing, and get one step nearer to grid independence. Clients can develop the NV14’s capability to an industry-leading 24.0 kWh with the non-compulsory NeoVolta NV24 add-on battery. NeoVolta has added generator compatibility and is engaged on different {industry} main enhancements that will likely be introduced quickly.

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Ahead-Wanting Statements

A number of the statements on this launch are forward-looking statements throughout the which means of Part 27A of the Securities Act of 1933, Part 21E of the Securities Change Act of 1934 and the Non-public Securities Litigation Reform Act of 1995, which contain dangers and uncertainties. Ahead-looking statements on this press launch embrace, with out limitation, statements referring to the anticipated buying and selling graduation and shutting dates. Though NeoVolta believes that the expectations mirrored in such forward-looking statements are cheap as of the date made, expectations could show to have been materially completely different from the outcomes expressed or implied by such forward-looking statements. NeoVolta has tried to establish forward-looking statements by terminology together with ”believes,” ”estimates,” ”anticipates,” ”expects,” ”plans,” ”initiatives,” ”intends,” ”potential,” ”could,” ”might,” ”would possibly,” ”will,” ”ought to,” ”roughly” or different phrases that convey uncertainty of future occasions or outcomes to establish these forward-looking statements. These statements are solely predictions and contain identified and unknown dangers, uncertainties, and different elements, together with these mentioned below the “Danger Elements” part of the prospectus. Any forward-looking statements contained on this launch converse solely as of its date. NeoVolta undertakes no obligation to replace any forward-looking statements contained on this launch to replicate occasions or circumstances occurring after its date or to replicate the prevalence of unanticipated occasions.

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