U Power Raises $6 Million via 13.36M Unit Offering with Warrants
U Power Limited closed a $6.0 million underwritten public offering of 13.36 million units at $0.449 each, with each unit comprising one Class A ordinary share and one warrant. The offering features warrants exercisable immediately at $0.449, zero-price exercise for double shares, and a partially exercised 45-day over-allotment option.
1. Offering Structure
U Power Limited completed an underwritten public offering of 13.36 million units at $0.449 per unit, generating $6.0 million in gross proceeds before underwriting discounts and expenses. Each unit includes one Class A ordinary share and one Class A warrant, bolstering liquidity for AI-integrated energy grid and transportation solutions.
2. Warrant Terms
Each warrant expires one year from issuance and is initially exercisable at $0.449 per share. On the second and fifth trading days post-closing, the exercise price will adjust to 70% and 50% of the initial price, and holders may opt for zero-price exercise to receive twice the number of shares.
3. Over-Allotment Option Exercise
The underwriter held a 45-day option to purchase up to 2.004 million additional shares and/or warrants and partially exercised this option for 1.89 million warrants. This over-allotment participation supports market stabilization and reflects investor demand following the March 20, 2026 closing.