Core Viewpoint - UTime Limited has announced a registered direct offering to sell $5 million of its ordinary shares, aiming to enhance its capital for further business operations and product development [1][2]. Group 1: Offering Details - UTime will sell 7,692,308 ordinary shares at a price of $0.65 per share, with gross proceeds estimated at $5 million before expenses [1]. - The offering is expected to close around September 16, 2024, pending customary closing conditions [1]. Group 2: Regulatory Information - The shares are being offered under a shelf registration statement on Form F-3, initially filed with the SEC on April 24, 2024, and declared effective on June 10, 2024 [2]. - A prospectus supplement detailing the terms of the offering will be filed with the SEC [2]. Group 3: Company Overview - UTime Ltd., established in 2008, focuses on providing cost-effective mobile devices globally, particularly targeting low-income individuals in both established and emerging markets [4]. - The company has expanded its product line to include smart electric vehicle chargers in response to global energy conservation demands [4].
UTime Limited Announces Pricing of $5 Million Registered Direct Offering