CoVolt Power Announces Public Filing of Registration Statement for Proposed Initial Public Offering

CoVolt Power, Inc. (“CoVolt Power” or the “Company”), today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of shares of its Class A common stock. The number of shares of CoVolt Power to be offered and the price range for the proposed offering have not yet been determined. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The Company intends to list its Class A common stock on the New York Stock Exchange under the ticker symbol “KVLT”.

J.P. Morgan, Jefferies, RBC Capital Markets, UBS Investment Bank, KeyBanc Capital Markets, Wolfe | Nomura Alliance, Baird, Needham & Company, and Roth Capital Partners are acting as underwriters for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the proposed offering, when available, may be obtained via EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus relating to the proposed offering, when available, may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at 877-821-7388, or by email at prospectus_department@jefferies.com.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. 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 jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

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