U Power Limited Ordinary SharesUCAR
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Priced $16M private placement to fund hydrogen projects and expansion.
Impact on stocks 1
Electrification & Mobility
U Power Limited Ordinary SharesU Power has priced a $16 million private placement of 9.76 million Class A ordinary shares at $1.64 per share to four existing shareholders. The offering closed on August 3 after board approval. Net proceeds will primarily fund hydrogen energy projects for data centers in Thailand and the expansion of the company's battery-swapping operations overseas. Shares fell 2.48%.
U Power Limited Ordinary SharesPriced $16M private placement to fund hydrogen projects and expansion.