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CHENGDU, China - Senmiao Technology Limited (NASDAQ:AIHS) announced Friday it has entered into a securities purchase agreement with accredited investors for a registered direct offering expected to generate approximately $2.8 million in gross proceeds. The microcap company, currently valued at just $1.39 million, has seen its stock price plummet 88.32% year-to-date, trading near its 52-week low of $1.21.
The offering includes 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. The transaction is expected to close around November 17, 2025.
In a separate private placement, Senmiao will issue warrants to purchase up to 4,510,000 shares of common stock, pending stockholder approval. These warrants will have a 5.5-year term and an exercise price of $1.26 per share. The company plans to hold a special stockholder meeting within 45 days after closing to seek approval for issuing these warrants.
The company intends to use the net proceeds for general corporate purposes and working capital.
The common stock offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission, while the warrants in the private placement are being offered under exemptions from registration requirements.
Senmiao Technology, headquartered in Chengdu, provides automobile transaction and related services in China, including automobile sales, financing facilitation, management, operating leases, and other transaction services.
The information in this article is based on a press release statement from the company.
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