UTime Limited Announces Pricing of $5 Million Registered Direct Offering
UTime Limited - Ordinary Shares (WTO)
Company Research
Source: GlobeNewswire
NEW YORK, Sept. 13, 2024 (GLOBE NEWSWIRE) -- 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 registra
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