Eco Wave Power Global AB (NASDAQ: WAVE) announced the successful closing of its $4.0 million registered direct offering with a single strategic institutional investor.
The offering consisted of 400,000 American Depositary Shares (ADSs) priced at $10.00 per ADS, representing a 10.7% premium to the Company’s previous Nasdaq closing price, together with warrants to purchase up to 300,000 ADSs at an exercise price of $12.00 per ADS, a 32.9% premium to the previous closing price. The warrants are immediately exercisable and expire three years from issuance.
The Company expects to use the net proceeds to advance its global wave energy project portfolio and support the continued development of AI-driven technologies, including digital twins and other solutions designed to optimize the performance and scalability of its wave energy platform.
Lucosky Brookman LLP served as U.S. securities counsel to Eco Wave Power Global AB in connection with the registered direct offering. Maxim Group LLC acted as the sole placement agent.
