UTime Ltd. Private Placement with Non-U.S. Investors
Ticker: WTO · Form: 6-K · Filed: Nov 15, 2024 · CIK: 1789299
| Field | Detail |
|---|---|
| Company | Utime Ltd (WTO) |
| Form Type | 6-K |
| Filed Date | Nov 15, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $0.388, $0.155, $27.9 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: private-placement, regulation-s, capital-raise
TL;DR
UTime Ltd. just did a private placement with foreign investors on Nov 7, 2024. Details TBD.
AI Summary
On November 7, 2024, UTime Ltd. entered into a Securities Purchase Agreement (SPA) with non-U.S. Persons, referred to as Purchasers, to issue shares under Regulation S of the Securities Act of 1933. The filing does not specify the number of shares or the total dollar amount of the private placement.
Why It Matters
This private placement indicates UTime Ltd. is raising capital from international investors, which could impact its financial structure and future growth plans.
Risk Assessment
Risk Level: medium — The filing indicates a private placement, which can sometimes signal a need for capital or a lack of access to public markets, and the lack of specific financial details increases uncertainty.
Key Players & Entities
- UTime Ltd. (company) — Registrant
- November 7, 2024 (date) — Date of SPA execution
- Regulation S (legal_document) — Governing regulation for the private placement
- Securities Act of 1933 (legal_document) — Governing legislation for the private placement
FAQ
What is the total dollar amount of the private placement?
The filing does not specify the total dollar amount of the private placement.
How many shares are being issued in this private placement?
The filing does not specify the number of shares being issued.
Who are the specific Purchasers in this private placement?
The filing refers to the Purchasers as "non-U.S. Persons" as defined in Regulation S but does not name them specifically.
What is the intended use of the funds raised from this private placement?
The filing does not disclose the intended use of the funds raised.
Under which specific terms of Regulation S is this placement being conducted?
The filing states the placement is conducted pursuant to Regulation S but does not detail the specific sub-sections or terms.
Filing Stats: 593 words · 2 min read · ~2 pages · Grade level 12.5 · Accepted 2024-11-15 16:05:09
Key Financial Figures
- $0.0001 — rdinary share of the Company, par value $0.0001 per share (“ Share ”) and t
- $0.388 — quo;) with an initial exercise price of $0.388 per Share, at a price of $0.155 per Uni
- $0.155 — rice of $0.388 per Share, at a price of $0.155 per Unit, for an aggregate purchase pri
- $27.9 million — gregate purchase price of approximately $27.9 million (the “ Offering ”). The Com
Filing Documents
- ea0221159-6k_utime.htm (6-K) — 14KB
- ea022115901ex99-1_utime.htm (EX-99.1) — 266KB
- ea022115901ex99-2_utime.htm (EX-99.2) — 83KB
- 0001213900-24-099095.txt ( ) — 363KB
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: November 15, 2024 UTIME LIMITED By: /s/ Hengcong Qiu Name: Hengcong Qiu Title: Chief Executive Officer 2