Expion360 reduces warrant exercise prices to raise cash

Expion360 Inc. (NASDAQ: XPON) entered into an inducement offer letter agreement on August 14, 2025, to reduce exercise prices on existing warrants in exchange for their simultaneous exercise, according to a company filing.

The company reduced the exercise price for August Series A warrants from $5.206 per share to $1.31 per share, and January warrants from $2.36 per share to $1.31 per share. The agreement covers holders of a substantial majority of the August Series A warrants issued on August 8, 2024, and all holders of January warrants issued on January 3, 2025.

The August Series A warrants became exercisable on September 30, 2024, and remain exercisable until September 30, 2029. The January warrants were immediately exercisable upon issuance and can be exercised until January 3, 2030.

Expion360 stated the inducement offer aims to raise cash proceeds and simplify its capitalization structure. The shares underlying both warrant series have been registered for resale under separate registration statements filed with the Securities and Exchange Commission.

The August Series A warrant shares were registered under a Form S-1 filing initially submitted on July 25, 2024, and declared effective on August 6, 2024. The January warrant shares were registered under a separate Form S-1 filing submitted on January 17, 2025, and declared effective on February 11, 2025.

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