U Power Limited closed its $6.0 million public offering of 13,360,000 units at $0.449 per unit, each consisting of one Class A ordinary share and one Class A warrant exercisable for one year from March 20, 2026. The underwriter partially exercised the over-allotment option for an additional 1,890,000 warrants.
Key takeaways
13,360,000 Units sold at $0.449 per Unit for $6.0 million gross proceeds
Each Unit includes one Class A Ordinary Share (par value $0.00001) and one Class A Warrant
Warrants initially exercisable at $0.449, resetting to $0.3143 on March 24, 2026 and $0.2245 on March 27, 2026
Zero cash exercise option allows holders to receive twice the Class A Ordinary Shares issuable on cash exercise
45-day over-allotment option partially exercised for 1,890,000 additional Warrants on March 20, 2026
Underwritten by Maxim Group LLC; closing on March 20, 2026