San Diego, CA — January 23, 2026 — NeoVolta Inc. (Nasdaq: NEOV), a U.S.-based energy technology company delivering scalable storage, today announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 2,100,841 shares of common stock at a purchase price of $ 4.76 per share in a registered direct offering. The closing of the registered direct offering is expected to occur on or about January 26, 2026, subject to the satisfaction of customary closing conditions.
Needham & Company acted as sole placement agent in the registered direct offering.
The aggregate gross proceeds to the Company from the offering are expected to be approximately $10 million, before deducting offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.
The securities being offered in the registered direct offering described above are being offered and sold by the Company in a registered direct offering pursuant to a “shelf” registration statement on Form S-3 (File No. 333-280400) that was originally filed with the Securities and Exchange Commission (the “SEC”) on June 21, 2024, and that became effective on June 28, 2024. The offering of the securities in the registered direct offering is being made only by means of a base prospectus and prospectus supplement that forms a part of the effective registration statement. A final prospectus supplement and the accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website at www. sec.gov. Electronic copies of the final prospectus supplement and the accompanying base prospectus, when available, may also be obtained, when available, from the Company at 12195 Dearborn Place, Poway, CA 92064, by phone at (800) 364-5464 or e-mail at [email protected].
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.