Corporate ActionMay 1, 2026, 03:30 PM
UTime Ltd to Raise $1.2M via Registered Direct Offering
AI Summary
UTime Limited announced it has entered into a definitive securities purchase agreement with certain institutional investors for a registered direct offering. The company will sell an aggregate of 1,000,000 Class A ordinary shares (or pre-funded warrants) at a purchase price of $1.20 per share. This offering is expected to generate approximately $1.2 million in gross proceeds for the company, before deducting fees and expenses. The transaction is projected to close around May 4, 2026, subject to customary closing conditions, with Univest Securities, LLC serving as the sole placement agent.
Key Highlights
- UTime Limited entered a definitive securities purchase agreement for a registered direct offering.
- The offering involves 1,000,000 Class A ordinary shares or pre-funded warrants.
- The purchase price is set at $1.20 per share.
- Gross proceeds are expected to be approximately $1.2 million.
- The transaction is anticipated to close on or about May 4, 2026.
- Univest Securities, LLC is acting as the sole placement agent.
- The offering is made pursuant to a shelf registration statement on Form F-3.
Price Impact
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