UTIME LTD NEW DL-,50

UTime has completed a private placement of approximately $50 million by selling 50 million units at $1.00 each. Each unit consists of one Class A common share and a warrant to purchase four additional common shares, exercisable immediately at $1.10 per share until May 18, 2031. The securities were offered under Regulation S to non‑U.S. investors, and officers and directors signed 180‑day lock‑up agreements. Net proceeds are intended for general working capital and other corporate purposes. » Plus sur de.investing.com

UTime completed a registered direct placement raising $1.2 million, selling 1 million Class-A common shares to institutional investors at $1.20 per share; some investors received pre-funded warrants instead of shares. The shares have a par value of $0.50, and the gross proceeds are stated before deduction of placement fees and issuance costs. The capital raise comes as the stock trades near its 52-week low and has fallen about 99.85% over the past year; Univest Securities served as sole placement agent. According to analysis, UTime is suffering significant cash outflows, making the financing timely; the offering relies on an F-3 registration that was previously effective with the SEC. » Plus sur de.investing.com