Eco Wave Power Global, a leading innovator in onshore wave energy technology, has announced the pricing of its registered direct offering with a single strategic institutional investor. The Offering consists of 400,000 American Depositary Shares ('ADSs') at an offering price of $10.00 per ADS, representing a 10.7% premium to the last Nasdaq closing price. Each ADS represents eight common shares of the Company. Gross proceeds from the Offering are expected to be $4.0 million, before deducting placement agent fees and offering expenses. In addition, the investor will receive warrants to purchase 300,000 ADSs. The warrants will have an exercise price of $12.00 per ADS, representing a 32.9% premium to the last Nasdaq closing price, will be exercisable immediately upon issuance and will expire on the third anniversary of the original issuance date.
Maxim Group LLC is acting as the sole placement agent for the Offering.
Eco Wave Power currently intends to use the net proceeds from the Offering to advance its global expansion and further develop its position as the energy layer for AI infrastructure. Offering is expected to close on or about June 26, 2026 (the 'Closing Date'), subject to the satisfaction of customary closing conditions.
The Offering is being made pursuant to an effective shelf registration statement on Form F-3, as amended, (File No. 333-275728) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission ('SEC') on December 6, 2023. A prospectus supplement relating to the ADSs to be issued in the Offering will be filed by the Company with the SEC. When available, copies of the prospectus supplement relating to the Offering, together with the accompanying prospectus, can be obtained at the SEC’s website at www.sec.gov or by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@maximgrp.com or by telephone at (212) 895-3745.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.
About Eco Wave Power Global
Eco Wave Power Global (NASDAQ: WAVE) is a pioneering onshore wave energy company that converts ocean and sea waves into clean, reliable, and cost-efficient electricity using its patented technology. By generating renewable power directly from existing coastal infrastructure such as breakwaters, jetties, and piers, Eco Wave Power enables sustainable electricity production in close proximity to coastal cities, ports, and energy-intensive infrastructure.
As global electricity demand continues to rise, driven in part by the rapid growth of artificial intelligence, data centers, and digital infrastructure, Eco Wave Power is positioning its technology as a scalable, nearshore renewable energy solution capable of supporting next-generation power needs.
With a mission to accelerate the global transition to renewable energy while supporting the next generation of digital and industrial infrastructure, Eco Wave Power developed and operates Israel’s first grid-connected wave energy power station, recognized as a 'Pioneering Technology' by the Israeli Ministry of Energy and co-funded by EDF Power Solutions. In the United States, the Company recently launched the first-ever onshore wave energy pilot station at the Port of Los Angeles, in collaboration with Shell Marine Renewable Energy.
Eco Wave Power is expanding globally with projects planned in Portugal, Taiwan, and India, representing a project pipeline of 404.7 MW. The Company has received international recognition and support from organizations including the European Union Regional Development Fund, Innovate UK, and the EU Horizon 2020 program, and was honored with the United Nations Global Climate Action Award.
Eco Wave Power’s American Depositary Shares (ADSs) are traded on the Nasdaq Capital Market under the ticker symbol 'WAVE.'
Source: Eco Wave Power
