U Power Limited Announces Pricing of $6.0 Million Public Offering

Core Viewpoint - U Power Limited has announced a public offering of 13,360,000 Units at a price of $0.449 per Unit, aiming to raise approximately $6.0 million before expenses [1][4]. Offering Details - Each Unit consists of one Class A ordinary share and one Class A warrant, with the warrant exercisable at the initial price of $0.449 per share [2]. - The warrants will expire one year from issuance and can be adjusted to 70% and 50% of the initial exercise price on the 2nd and 5th trading days post-offering [2]. - The underwriter has a 45-day option to purchase an additional 2,004,000 Class A Ordinary Shares and/or Warrants [3]. Financial Aspects - The gross proceeds from the offering are expected to be around $6.0 million, with the closing anticipated on or about March 20, 2026 [4]. - Maxim Group LLC is acting as the exclusive underwriter for this offering [4]. Company Overview - U Power Limited specializes in AI-integrated solutions for energy grids and intelligent transportation systems, focusing on electric vehicles (EVs) and energy infrastructure [7]. - The company has evolved from a battery-swapping station distributor to a provider of comprehensive AI-driven energy solutions [7][8]. - U Power aims to create intelligent ecosystems that enhance the performance of EVs and energy grids through advanced AI algorithms [8].