U Power Announces Pricing Of $1.4M Offering Of 551,628 Shares And Warrants At A Combined Price Of $2.50

Author: Benzinga Newsdesk | July 24, 2025 01:31pm

U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a provider of comprehensive electric vehicle ("EV") battery-swapping solutions on track of becoming a smart energy grid solutions provider, today announced that it has entered into a securities purchase agreement with a single institutional investor (the "Investor") to sell 551,628 Class A ordinary shares (or pre-funded warrants in lieu thereof) of the Company's in a registered direct offering. In a concurrent private placement, the Company also agreed to issue and sell to the Investor warrants to purchase up to 551,628 Class A ordinary shares. The combined effective offering price for each Class A ordinary share and accompanying warrant is $2.50. The warrants which are immediately exercisable, expire five years from issuance, and have an initial exercise price of $2.50 per share, which exercise price is subject to standard adjustments for dividends, splits and similar events and is also subject to adjustment for certain dilutive issuances (as defined in the form of warrant).

The gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $1.4 million before deducting the placement agent's fees and other estimated offering expenses payable by the Company.

The offering is expected to close on or about July 25, 2025, subject to the satisfaction of customary closing conditions.

Maxim Group LLC is acting as the sole placement agent in connection with the offering.

Posted In: UCAR