UTime Ltd

UTime Ltd completed a 10-for-1 share consolidation effective June 22, 2026, with the Nasdaq effective date clarified on July 2, 2026. The company also canceled a total of 3,672 Class A ordinary shares previously issued to 23 offshore investors due to payment issues. Additionally, UTime granted 180,000 restricted Class A ordinary shares to each of its five directors under the 2026 Equity Incentive Plan.

UTime Limited announced a change in its Nasdaq Capital Market ticker symbol from "WTO" to "FXHO", effective July 2, 2026. This change is being made in preparation for the company's planned acquisition of Feixiaohao Technology Inc., a Web3 data and information platform. UTime believes the proposed transaction will strengthen its strategic positioning in the Web3 and digital data infrastructure sector. The acquisition remains subject to due diligence, negotiation of definitive agreements, and regulatory approvals.

UTime Limited (Nasdaq: WTO) is implementing a 10-for-1 share consolidation, effective June 22, 2026. This corporate action will consolidate every ten Class A ordinary shares into one, adjusting the par value accordingly. The company's shares will continue trading under the ticker WTO on the Nasdaq Capital Market. Shareholders previously approved the authorization for such a consolidation, with the final ratio and timing determined by the board.

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.

UTime Ltd announced that its financial, legal, and operational due diligence for the proposed strategic transaction with Feixiaohao Technology Inc. is progressing smoothly and in an orderly manner. Feixiaohao is a widely recognized Web3 data and information platform. UTime believes this potential transaction will strengthen its strategic positioning in the evolving Web3 and digital data infrastructure sector, leveraging Feixiaohao's market presence and user base. The company emphasized that the transaction is still subject to the completion of due diligence, negotiation of definitive agreements, and regulatory approvals.

UTime Limited has successfully closed a best-efforts registered direct offering, securing approximately $1.2 million in gross proceeds. The offering involved the sale of 200,000 Class A ordinary shares and 800,000 pre-funded warrants. The company intends to utilize the net proceeds for general working capital and other general corporate purposes.

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.

UTime Limited granted 200,000 restricted stock units (RSUs) to each of its five directors on April 29, 2026. Each RSU represents one Class A ordinary share and vested immediately upon issuance, as per the grant agreements.

UTime Ltd announced the adoption of its 2026 Equity Incentive Plan (EIP) on April 24, 2026. This new plan is designed to offer equity-based incentives to various personnel, including employees, officers, non-employee directors, consultants, independent contractors, and advisers. The EIP permits the issuance of up to 5,000,000 Ordinary Shares and supersedes the company's previous equity incentive plan from 2024.