Senmiao Technology closes $2.8 million registered direct offering

CHENGDU, China - Senmiao Technology Limited (NASDAQ:AIHS) announced Thursday the closing of its registered direct offering, raising approximately $2.8 million in gross proceeds before deducting offering expenses. The micro-cap company, with a market capitalization of just $1.19 million, has seen its stock price fall by 88.86% over the past six months.

The China-based company sold 1,350,000 shares of common stock and pre-funded warrants to purchase 905,000 shares at a purchase price of $1.26 per share.

In connection with the offering, Senmiao may conduct a separate private placement to issue warrants to purchase up to 4,510,000 shares of common stock, pending stockholder approval. If issued, these warrants would be exercisable immediately upon issuance at $1.26 per share with a term of five and a half years.

"Completing this financing strengthens our financial foundation and provides the resources needed to pursue our growth strategy," said Haitao Liu, Senmiao’s Chief Operating Officer.

The shares were offered through a shelf registration statement on Form S-3 that was declared effective by the SEC on September 29, 2023. A prospectus supplement related to the offering was filed with the SEC on November 14, 2025.

The potential warrants and warrant shares would be offered through a private placement pursuant to exemptions from SEC registration requirements.

Senmiao Technology, headquartered in Chengdu, provides automobile transaction and related services in China, including sales, financing facilitation, management, operating leases, and other automobile transaction services.

This article is based on a press release statement from the company.

In other recent news, Senmiao Technology announced a registered direct offering expected to generate approximately $2.8 million in gross proceeds. The company has entered into a securities purchase agreement with accredited investors, which includes the issuance of 1,350,000 shares of common stock and pre-funded warrants to purchase an additional 905,000 shares. Each share and warrant is priced at $1.26. The closing of this transaction is anticipated to occur soon, pending customary conditions. This development follows the disclosure of the offering in a press release and a filing with the Securities and Exchange Commission. The funds raised are before deducting offering fees and expenses. The announcement has been met with mixed reactions from the market.

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