Expion360 (XPON) Registration filing summary

Company overview and business model

• Designs, assembles, manufactures and sells LiFePO4 batteries and accessories for RV, marine and industrial energy storage; customers include dealers, wholesalers, private-label buyers and OEMs.

• Evaluating expansion into mission-critical commercial storage; current activity remains concentrated in RV, marine and industrial segments.

• Expanded into oil and gas through an Aug. 21, 2026 acquisition of an Eastern Louisiana prospect: ~3,000 net acres, one wellbore, title research covering ~13,000 acres and related intellectual property.

• Exploration agreement requires commercially reasonable efforts to start a directional lateral well operation of at least 4,000 feet by Feb. 15, 2027, subject to customary exceptions.

Financial performance and metrics

• Audited financial statements cover FY2024 and FY2025; prospectus risk disclosures cite a history of losses and substantial doubt about the ability to continue as a going concern.

• Public float was $8,963,061 as of Oct. 22, 2026, based on 977,433 non-affiliate shares and a $9.17 highest close in the preceding 60 days.

• June 30, 2026 net tangible book value was stated as ~$4.8M, or $5.05/share; after the assumed ATM sale, adjusted value was ~$7.1M, or $5.15/share.

• At an assumed $3.92/share ATM price, the filing estimates immediate dilution of $1.23/share for new investors and a $0.76/share decrease in net tangible book value for existing holders.

Use of proceeds and capital allocation

• ATM proceeds, estimated up to ~$1.46M net, are intended for working capital and general corporate purposes, including Exploration Agreement commitments.

• Proceeds may also fund complementary asset, business or technology acquisitions; no current acquisition plans, commitments or agreements were stated as of the prospectus date.

• The broader shelf allows net proceeds to support general corporate purposes and exploration commitments; management retains broad discretion over allocation.