Oklo stock tumbles as Financial Times scrutinizes valuation
Investing.com -- UTime Limited (NASDAQ:WTO) shares collapsed 84% Thursday after the consumer electronics manufacturer announced a $25 million registered direct offering that will significantly dilute existing shareholders.
The company plans to sell 22,727,275 units at $1.10 each, with each unit consisting of one Class A ordinary share and one Series A warrant. The warrants will have an exercise price of $1.10 per share and will expire six months after issuance.
UTime, which specializes in smartphones, feature phones, and related accessories under both OEM/ODM and self-owned brands, expects the transaction to close around October 17, 2025, subject to customary closing conditions.
Univest Securities is serving as the sole placement agent for the offering. The massive stock decline reflects investor concerns about the substantial dilution from the new share issuance, as the company looks to raise capital to support its operations.
UTime trades on the Nasdaq under the ticker WTO. The offering comes as the company seeks to strengthen its financial position in the competitive consumer electronics market.
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