UTime Ltd. Private Placement with Non-U.S. Persons
Ticker: WTO · Form: 6-K · Filed: Jan 8, 2025 · CIK: 1789299
| Field | Detail |
|---|---|
| Company | Utime Ltd (WTO) |
| Form Type | 6-K |
| Filed Date | Jan 8, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $0.344, $0.15, $1.53 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: private-placement, securities-offering, regulation-s
TL;DR
UTime Ltd. just did a private placement with foreign buyers on Jan 6, 2025.
AI Summary
On January 6, 2025, UTime Ltd. entered into a Securities Purchase Agreement (SPA) with non-U.S. Persons, referred to as Purchasers, for a private placement. This agreement falls under Regulation S of the Securities Act of 1933, indicating the securities are being offered and sold outside the United States.
Why It Matters
This private placement could provide UTime Ltd. with new capital, potentially impacting its financial flexibility and future growth strategies. The involvement of non-U.S. persons suggests an international investor base.
Risk Assessment
Risk Level: medium — Private placements can sometimes indicate a need for capital or a lack of access to public markets, and the specifics of the terms are not detailed in this initial filing.
Key Players & Entities
- UTime Ltd. (company) — Registrant
- January 6, 2025 (date) — Date of SPA entry
- Securities Purchase Agreement (agreement) — Material Definitive Agreement
- Regulation S (regulation) — Governing regulation for the private placement
- Securities Act of 1933 (act) — Governing act 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 in this section.
Who are the specific 'Purchasers' involved in the private placement?
The filing refers to the purchasers as 'certain "non-U.S. Persons"' but does not name them specifically.
What are the terms and conditions of the Securities Purchase Agreement?
The filing states that a Securities Purchase Agreement was entered into but does not detail its specific terms and conditions.
What is the purpose of this private placement for UTime Ltd.?
The filing does not explicitly state the purpose of the private placement.
Are there any lock-up periods or resale restrictions for the securities purchased?
The filing does not provide details on lock-up periods or resale restrictions for the securities.
Filing Stats: 550 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2025-01-08 16:05:27
Key Financial Figures
- $0.0001 — rdinary share of the Company, par value $0.0001 per share (“ Share ”) and a
- $0.344 — quo;) with an initial exercise price of $0.344 per Share, at a price of $0.15 per Unit
- $0.15 — rice of $0.344 per Share, at a price of $0.15 per Unit for an aggregate purchase pric
- $1.53 million — gregate purchase price of approximately $1.53 million (the “ Offering ”). The net
Filing Documents
- ea0227081-6k_utime.htm (6-K) — 14KB
- ea022708101ex99-1_utime.htm (EX-99.1) — 213KB
- ea022708101ex99-2_utime.htm (EX-99.2) — 76KB
- 0001213900-25-002072.txt ( ) — 304KB
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: January 8, 2025 UTIME LIMITED By: /s/ Hengcong Qiu Name: Hengcong Qiu Title: Chief Executive Officer 2