Senmiao Technology Announces Private Placement Offering of Warrants for Up to 4.51 Million Shares
Reuters
Nov 14
Senmiao Technology Announces Private Placement Offering of Warrants for Up to 4.51 Million Shares
Senmiao Technology Ltd. has entered into a securities purchase agreement with certain accredited investors, issuing 1,350,000 shares of common stock and pre-funded warrants to purchase 905,000 shares of common stock at $1.26 per share in a registered direct offering. In a separate private placement, the company also agreed to issue warrants to purchase up to 4,510,000 shares of common stock. These warrants, which will have a term of 5.5 years and be exercisable immediately upon issuance at an exercise price of $1.26 per share, are subject to stockholder approval. The private placement warrants and underlying shares are being offered pursuant to exemptions from SEC registration requirements. Senmiao plans to file a registration statement for the resale of the warrant shares within 30 days after obtaining stockholder approval.
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