U Power Limited Announces Closing of $6.0 Million Public Offering

Core Viewpoint - U Power Limited has successfully closed a public offering, raising $6.0 million through the sale of 13,360,000 Units at a price of $0.449 per Unit, which includes Class A ordinary shares and warrants [1][4]. Offering Details - Each Unit consists of one Class A ordinary share and one Class A warrant, with the warrant exercisable at an initial price of $0.449 per share, subject to adjustments [2]. - The underwriter has a 45-day option to purchase an additional 2,004,000 Class A ordinary shares and/or warrants, of which 1,890,000 warrants were partially exercised [3]. Financial Aspects - The gross proceeds from the offering, before deducting underwriting discounts and expenses, amounted to $6.0 million [4]. - The offering was conducted under a registration statement filed with the SEC, which became effective on March 18, 2026 [5]. Company Overview - U Power Limited specializes in AI-integrated solutions for energy grids and intelligent transportation systems, evolving from a battery-swapping station distributor to a comprehensive energy solutions provider [7]. - The company aims to build intelligent ecosystems that integrate AI-driven solutions, enhancing the performance of electric vehicles (EVs) and energy infrastructure [8].