공시 • Oct 19
Expion360 Inc. Announces Executive, Board and Committee Changes, Effective October 16, 2025
On October 16, 2025, Expion360 Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with two institutional investors pursuant to which the Company agreed to sell in a private placement (the “Private Placement”) an aggregate of (i) 613,077 shares (the “Shares”) of common stock, par value $0.001 per share, of the Company (“Common Stock”); and (ii) a pre-funded warrant (the “Pre-Funded Warrant”) to purchase up to 144,498 shares of Common Stock (the “Pre-Funded Warrant Shares” and, collectively with the Shares and the Pre-Funded Warrant, the “Securities”). In connection with the closing of the Private Placement and pursuant to the Purchase Agreement, the Board accepted a letter from Paul Shoun, President of the Company and Chairman of the Board, in which he resigned from each of these positions, effective October 16, 2025. On October 16, 2025, in connection with the closing of the Private Placement and pursuant to the Purchase Agreement, the Board appointed Joseph Hammer as Chairman of the Board, effective October 16, 2025. Mr. Hammer will serve as a member of the Board until the Company’s annual meeting of stockholders to be held in 2026 or until his successor is duly elected and qualified, or his earlier death, resignation, or removal. Mr. Hammer, age 46, has served as the Chief Investing Officer at LHX Corp. (“LHX”), since February 2025 and, prior to that, served as Chief Investing Officer of LH Financial since 2010. As the CIO, Mr. Hammer sources potential investments for the family office and provides continued guidance for many of the family’s investments and mergers, and in particular, within the Middle East. In addition, Mr. Hammer originates numerous charitable endeavors and relationships for LHX and the family, including organizations that foster education, family, and health across North America, Israel, and elsewhere. Mr. Hammer has served as the Chairman of the Board of Trailblazer Merger Corporation I since 2023. In addition, since 2016, Mr. Hammer has served as a member of the Board of Directors of Gratitude Railroad LLC. Mr. Hammer is the founder of The JDH Foundation, a 501(c)3 charitable organization he founded in 2020 that supports local and international charitable causes. He is also the Chairman of the Executive Committee of Chai Lifeline Inc., and has served in this role since September 2022. On October 16, 2025, the Board took action, pursuant to Article III, Section 3.2 of the Amended and Restated Bylaws, to increase the number of authorized directors from five to six. In connection with the closing of the Private Placement and pursuant to the Purchase Agreement, the Board appointed Scott Burell as a member of the Board. Mr. Burell will serve as a member of the Board until the Company’s annual meeting of stockholders to be held in 2026 or until his successor is duly elected and qualified or his earlier death, resignation, or removal. Mr. Burell has been appointed to serve on the Compensation Committee effective immediately upon his appointment. Mr. Burell is a seasoned healthcare finance executive with over two decades of experience leading public life sciences companies through complex transactions and growth phases. Mr. Burell currently serves as Chief Financial Officer of Trailblazer Merger Corporation I, a position he has held since April 2022. Mr. Burell also currently serves as Chief Financial Officer of AIVITA Biomedical Inc. (“AIVITA”), a position he has held since 2018. Prior to joining AIVITA, from 2006 to 2017, Mr. Burell served as Chief Financial Officer of CombiMatrix Corporation through its successful acquisition by Invitae Corporation in 2017. He has a proven track record in leading public and private debt and equity financing transactions, corporate reorganizations, and complex merger and acquisition activities. Mr. Burell has also served on several Boards of Directors, including Microbot Medical Inc., since December 2016, and DIH Holding US Inc., since August 2025. He holds Bachelor of Science in Accounting and Business Finance from Central Washington University and is a certified public accountant.