Senmiao Technology Limited announced the closing of its registered direct offering, raising approximately $2.8 million.
The offering included the sale of 1,350,000 shares of common stock and pre-funded warrants to purchase 905,000 shares at $1.26 per share.
The Company plans to issue warrants to purchase additional shares upon stockholders' approval.
Offering Details
1,350,000 shares of common stock and pre-funded warrants were sold at $1.26 per share, raising $2.8 million in gross proceeds.
Future Plans
The financing aims to support the growth strategy, exploring new business opportunities to diversify revenue streams.
Stockholder Approval
Warrants to purchase up to 4,510,000 shares will be issued upon stockholders' approval at $1.26 per share.
- The closing of the offering strengthens Senmiao's financial foundation for pursuing its growth strategy.
- The resources obtained will enable the Company to expand and create long-term shareholder value through new business opportunities.
Senmiao Technology's successful closing of the registered direct offering emphasizes its commitment to strategic growth and shareholder value. The Company is poised for future developments and expansions in its business operations.