InvestmentMay 21, 2026, 04:14 PM
UTime Closes $50M Private Placement of Units and Warrants
AI Summary
UTime Limited closed a private placement offering on May 19, 2026, raising approximately $50 million. The company sold 50,000,000 units at $1.00 each, with each unit comprising one Class A ordinary share and one warrant to purchase four Class A ordinary shares. The warrants are exercisable at $1.10 per share and expire in 2031. Proceeds will be used for general working capital and corporate purposes, and officers and directors entered into 180-day lock-up agreements.
Key Highlights
- Closed a private placement offering raising approximately $50 million.
- Sold 50,000,000 Units at an offering price of $1.00 per Unit.
- Each Unit consists of one Class A ordinary share and one warrant.
- Warrants are exercisable at $1.10 per Class A ordinary share.
- Warrants allow purchase of four Class A ordinary shares and expire May 18, 2031.
- Officers and directors entered into 180-day lock-up agreements.
- Net proceeds will be used for general working capital and corporate purposes.
Price Impact
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