UTime Limited Announces Pricing of $5 Million Registered Direct Offering
13 9월 2024 - 10:00PM
UTime Limited (“UTime” or the “Company”) (Nasdaq: WTO), a mobile
device manufacturing company committed to providing cost effective
products and solutions to consumers globally and helping low-income
individuals from established and emerging markets today announced
that it has entered into a securities purchase agreement with
certain accredited investor to sell $5 million of its ordinary
shares in a registered direct offering.
Under the terms of the securities purchase
agreement, UTime has agreed to sell 7,692,308 ordinary shares with
a purchase price of $0.65 per share. The gross proceeds to UTime
are estimated to be $5 million before deducting the estimated
offering expenses.
The registered direct offering is expected to
close on or about September 16, 2024, subject to the satisfaction
of customary closing conditions.
The ordinary shares being sold pursuant to the
registered direct offering are being made pursuant to a shelf
registration statement on Form F-3 (File No. 333-278912), intially
filed with the Securities and Exchange Commission (the "SEC") on
April 24, 2024, and declared effective on June 10, 2024. Such
securities are being offered only by means of a prospectus. A
prospectus supplement and the accompanying prospectus relating to
and describing the terms of the registered direct offering will be
filed with the SEC. When available, copies of the prospectus
supplement and the accompanying prospectus relating to the
registered direct offering may be obtained at the SEC's website
www.sec.gov or by contacting the Company, 7th Floor, Building
5A, Shenzhen Software Industry Base, Nanshan District, Shenzhen,
People’s Republic of China 518061.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, 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 the
registration or qualification under the securities laws of any such
state or jurisdiction.
About UTime
UTime Ltd., established in 2008, is committed to providing
cost-effective mobile devices to consumers globally and to helping
low-income individuals from established markets, including the
United States and emerging markets such as India and other
countries in South Asia and Africa have better access to updated
mobile technology. Since July 2023, we have added smart electric
vehicle chargers into our product lines in response to the global
demand for energy conservation and carbon reduction. For more
information, visit the Company’s website at
http://www.utimeworld.com/.
Forward-Looking Statements
Statements in this press release about future
expectations, plans and prospects, as well as any other statements
regarding matters that are not historical facts, may constitute
“forward-looking statements” within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements relating to the ability of the
Company to regain compliance with Nasdaq continued listing
requirements. The words “anticipate,” “believe,” “continue,”
“could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“potential,” “predict,” “project,” “should,” “target,” “will,”
“would” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors discussed in
the “Risk Factors” section of the Annual Report in Form 20-F filed
with the SEC on July 30, 2024. Any forward-looking statements
contained in this press release speak only as of the date hereof,
and the Company specifically disclaims any obligation to update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
For more information, please contact:
PREmail: pr@westock.com
UTime (NASDAQ:WTO)
과거 데이터 주식 차트
부터 9월(9) 2024 으로 10월(10) 2024
UTime (NASDAQ:WTO)
과거 데이터 주식 차트
부터 10월(10) 2023 으로 10월(10) 2024