U Power prices US$16 million share subscription at US$1.64 per share
UCAR•Use of proceeds
Proceeds are earmarked for hydrogen energy solutions for intelligent data centers in Thailand.
Funds are also targeted for minority equity acquisitions across the Thailand data-center supply chain.
Share subscription priced and completed
U Power priced a Regulation S share sale, issuing 9,756,100 Class A ordinary shares to four non-U.S. investors.
The deal closed Aug. 3, 2026, raising USD 16 million at USD 1.64 per share.
