UTime Ltd Closes Private Placement
Ticker: WTO · Form: 6-K · Filed: Mar 18, 2024 · CIK: 1789299
| Field | Detail |
|---|---|
| Company | Utime Ltd (WTO) |
| Form Type | 6-K |
| Filed Date | Mar 18, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $0.0001, $0.33, $0.13, $48.6 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: private-placement, financing
TL;DR
UTime Ltd closed its private placement with non-US investors, announced March 18, 2024.
AI Summary
UTime Limited announced the closing of a private placement on March 18, 2024, following an initial disclosure on November 16, 2023. The placement involved "non-U.S. Persons" as purchasers, as per a securities purchase agreement dated November 15, 2023.
Why It Matters
The closing of this private placement indicates UTime Limited has secured additional funding, potentially impacting its financial stability and future growth initiatives.
Risk Assessment
Risk Level: medium — Private placements can sometimes signal a need for capital or dilute existing shareholder value, warranting a medium risk assessment.
Key Players & Entities
- UTime Limited (company) — The company making the announcement.
- November 16, 2023 (date) — Date of initial disclosure of the private placement.
- November 15, 2023 (date) — Date of the securities purchase agreement.
- March 18, 2024 (date) — Date of the closing of the private placement.
FAQ
What was the total amount raised in the private placement?
The filing does not specify the total dollar amount raised in the private placement.
Who were the specific purchasers in the private placement?
The filing identifies the purchasers as certain "non-U.S. Persons" but does not name them specifically.
What is the purpose of the funds raised from the private placement?
The filing does not disclose the intended use of the funds raised.
When was the securities purchase agreement originally entered into?
The securities purchase agreement was entered into on November 15, 2023.
What is UTime Limited's principal executive office address?
UTime Limited's principal executive office is located at 7th Floor, Building 5A, Shenzhen Software Industry Base, Nanshan District, Shenzhen, 518061, People's Republic of China.
Filing Stats: 306 words · 1 min read · ~1 pages · Grade level 13.7 · Accepted 2024-03-18 17:00:11
Key Financial Figures
- $0.0001 — rdinary share of the Company, par value $0.0001 per share (“Share”) and a w
- $0.33 — quo;) with an initial exercise price of $0.33 per Share, at a price of $0.13 per Unit
- $0.13 — price of $0.33 per Share, at a price of $0.13 per Unit, for an aggregate purchase pri
- $48.6 million — gregate purchase price of approximately $48.6 million (the “Offering”), subject t
Filing Documents
- ea0202065-6k_utimeltd.htm (6-K) — 9KB
- 0001213900-24-023563.txt ( ) — 10KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: March 18, 2024 UTIME LIMITED By: /s/ Hengcong Qiu Name: Hengcong Qiu Title: Chief Executive Officer