UTime Ltd (WTO) Form 6-K — May 21, 2026
UTime Ltd (WTO) closed a $50 million private placement of securities under Regulation S on May 19, 2026. The company sold 50 million units, each consisting of one Class A ordinary share and one warrant to purchase four Class A ordinary shares, at a price of $1.00 per unit. The warrants are exercisable immediately at $1.10 per share and expire in May 2031. This structure creates significant potential dilution, as full exercise of the warrants would issue an additional 200 million shares.
Key figures
- Gross Proceeds
- 50000000
- Offering Price
- 1
- Shares Offered
- 50000000
- Warrants per unit
- 1
- Lockup period days
- 180
- Shares per warrant
- 4
- Warrant exercise price
- 1.1
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