NaaS Technology Inc. Announces US$6 Million Registered Direct Offering

Core Viewpoint - NaaS Technology Inc. has announced a definitive agreement for a registered direct offering of American Depositary Shares (ADS) and warrants, aiming to raise approximately US$6 million before expenses [1][2]. Company Overview - NaaS Technology Inc. is the first U.S. listed EV charging service company in China and operates as a subsidiary of NewLink Technology Limited, a leading energy digitalization group in China [3]. - The company provides comprehensive solutions for energy asset owners, including charging services and energy solutions, supporting the entire lifecycle of energy assets [3]. - As of September 30, 2023, NaaS had connected 767,611 chargers across 73,710 charging stations, capturing 41.6% of China's public charging market share for chargers and 50.0% for charging stations [3]. Offering Details - The offering includes 4,761,905 ADSs and warrants to purchase an equal number of ADSs at a combined price of US$1.26 per ADS and warrant [1]. - The warrants will have an exercise price of US$1.49, becoming exercisable six months after issuance and expiring five years from the initial exercise date [1]. - The closing of the offering is expected around March 15, 2024, pending customary closing conditions [1]. Regulatory Information - The offering is made under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC) [2]. - A prospectus supplement detailing the terms of the offering will be filed with the SEC and made available on their website [2].