Core Points - Senmiao Technology Limited has completed a registered direct offering, selling 1,350,000 shares and pre-funded warrants for a total of approximately $2.8 million before expenses [1][3] - The company plans to issue additional warrants for up to 4,510,000 shares, pending stockholder approval, with an exercise price of $1.26 per share [2][4] - The financing aims to strengthen the company's financial foundation and support its growth strategy, focusing on diversifying revenue streams [3] Offering Details - The shares were sold at a purchase price of $1.26 each, with gross proceeds of about $2.8 million [1] - The offering is conducted under a "shelf" registration statement effective since September 29, 2023, with a prospectus supplement filed on November 14, 2025 [3] - The warrants will be offered under exemptions from registration requirements, and a registration statement for the resale of warrant shares will be filed within 30 days after stockholder approval [4] Company Overview - Senmiao Technology Limited is headquartered in Chengdu, Sichuan Province, and provides automobile transaction services, including sales, financing, and operating leases in China [6]

Core Points - Senmiao Technology Limited has entered into a securities purchase agreement with accredited investors for the issuance of 1,350,000 shares of common stock and pre-funded warrants to purchase 905,000 shares at a price of $1.26 per share, resulting in gross proceeds of approximately $2.8 million [1] - The company will also issue warrants to purchase up to 4,510,000 shares of common stock, which will require stockholder approval and have a term of 5.5 years with an exercise price of $1.26 per share [1][4] - The closing of the sale of shares is expected around November 17, 2025, subject to customary closing conditions [1] Company Use of Proceeds - The net proceeds from the offering will be used for general corporate purposes and working capital [2] Regulatory Information - The shares are being offered under a "shelf" registration statement on Form S-3, effective since September 29, 2023, and a prospectus supplement will be filed with the SEC [3] - The warrants and warrant shares will be offered under an exemption from registration requirements of the Securities Act, and a registration statement on Form S-1 will be filed for the resale of warrant shares within 30 days after the special meeting [4] Company Overview - Senmiao Technology Limited, headquartered in Chengdu, Sichuan Province, provides automobile transaction and related services, including sales of automobiles, financing facilitation, management, operating leases, and guarantees in China [6]

Core Viewpoint - Senmiao Technology Limited plans to implement a 1-for-10 reverse stock split effective July 29, 2025, with trading to begin on a split-adjusted basis on that day [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will convert every 10 shares of the Company's issued and outstanding common stock into one share, with no fractional shares issued; any resulting fractional shares will be rounded up to the next whole number [3]. - The Board of Directors has approved the reverse stock split, which will not alter any stockholder's percentage interest in the Company's outstanding common stock, except for adjustments related to fractional shares [2][3]. - A Certificate of Change has been filed to reduce the authorized number of shares from 500,000,000 to 50,000,000, maintaining the same ratio as the issued and outstanding shares [4]. Group 2: Company Overview - Senmiao Technology Limited is headquartered in Chengdu, Sichuan Province, and provides automobile transaction and related services, including sales, financing, and management of automobile transactions in China [5].