Utime Limited Completes $48.6M Private Placement

Utime Limited (WTO) has released an update.

Utime Limited has successfully closed a private placement deal, securing approximately $48.6 million by selling over 373 million units, each comprising a share and a warrant, to non-U.S. investors. The transaction, initially disclosed in November 2023, was completed on March 18, 2024, after meeting all closing conditions. This strategic move aims to bolster the company’s financial position and future growth prospects.

For further insights into WTO stock, check out TipRanks’ Stock Analysis page.