U Power prices US$16 million private placement at US$1.64 per share
UCAR•Use of proceeds
Proceeds are earmarked for hydrogen energy expansion in Thailand, core operations, and overseas battery-swapping rollout.
Transaction details
The unregistered offshore sale relied on Regulation S; the transaction closed Aug. 3, 2026.
Private placement priced and subscribed
U Power priced a US$16 million private placement of 9,756,100 Class A ordinary shares at US$1.64 each, subscribed by four existing shareholders.
