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Senmiao Technology Announces $7 Million Registered Direct Offering

By Kathi on Feb 10, 2021 | 04:30 AM IST

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Senmiao Technology Limited (Nasdaq: AIHS) (“Senmiao”) a provider of automobile transaction and related services targeting the online ride-hailing industry in China as well as an operator of its own online ride-hailing platform, today announced that it entered into securities purchase agreements with certain institutional investors in connection with a registered direct offering of an aggregate of 5,072,465 shares of common stock at a price of $1.38 per share for aggregate gross proceeds of $7 million, before deducting the placement agent’s fees and other estimated offering expenses. The offering is expected to close on or about February 10, 2021, subject to the satisfaction of customary closing conditions.

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