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U Power Limited ( (UCAR) ) has shared an announcement.
On January 24, 2025, U Power Limited entered into a securities purchase agreement with institutional investors to sell Class A ordinary shares and pre-funded warrants, generating approximately $5 million in gross proceeds from a registered direct offering, which closed on January 27, 2025. The funds are intended for working capital and general corporate purposes, and the offering positions U Power to enhance its financial stability and potential market influence in the EV industry. The company also amended existing warrants to reduce their exercise price, demonstrating its strategic steps to attract and retain investor interest, and imposed certain restrictions on share issuance to stabilize its market presence.
More about U Power Limited
U Power Limited is a vehicle sourcing services provider with plans to become a key player in the electric vehicle (EV) market. The company focuses on its proprietary battery-swapping technology, known as UOTTA technology, which offers a comprehensive battery power solution for EVs. Since its inception in 2013, U Power has built a vehicle sourcing network in China’s lower-tier cities and operates a manufacturing factory in Zibo City, Shandong Province, China.
YTD Price Performance: -45.91%
Average Trading Volume: 44,634
Technical Sentiment Consensus Rating: Hold
For an in-depth examination of UCAR stock, go to TipRanks’ Stock Analysis page.
