Expion Energy, Inc. — Form SCHEDULE 13D
Filed August 28, 2026 · analyzed by the Ownership Agent
SCHEDULE 13D
▼ Likely negative
significance 85/100
What the filing says
Expion Energy, Inc. (market cap ~$3.1M) entered into a Securities Purchase Agreement dated August 21, 2026, to issue $9,000,000 principal amount of 8% convertible debentures due August 21, 2029, convertible into Series A-1 8% Convertible Preferred Stock at $1,000 per share, plus warrants to purchase common stock at $4.25 per share (5-year term). The debentures bear 8% annual interest (Applicable Federal Rate initially, then 8% after one year) and accrue 8% dividends on preferred stock. Conversion requires shareholder approval. Holders receive registration rights and anti-dilution protections (floor price $0.72). The transaction is materially transformative for this micro-cap company.
Why this rating
$9M financing = 290% of company's $3.1M market value. Highly dilutive; existential capital raise for micro-cap, but carries fixed 8% debt burden and massive equity dilution via preferred conversion and warrants at below-market prices.
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