- U Power (UCAR) said on Tuesday it priced a $16M private placement of 9.76M Class A ordinary shares at $1.64 per share to four existing shareholders.
- The offering closed on Aug. 3, after approval by the company’s board.
- Net proceeds will be used to primarily fund hydrogen energy projects for data centers in Thailand and the expansion of the company’s battery-swapping operations overseas.
- Shares -2.48%.
