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U Power | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC announcement ·  May 21 04:19
Summary by Futu AI
U Power Limited, a Cayman Islands exempted company, has entered into a significant subscription agreement with Fortune Light Assets Ltd., a British Virgin Islands entity, on May 13, 2024. Under the agreement, Fortune Light Assets Ltd. has agreed to purchase 209,644 ordinary shares of U Power at $4.77 per share, totaling $1,000,001.88. The deal also grants the purchaser rights including one demand registration for the shares, the option to buy an additional 492,611 shares at $6.09 each, and the right to appoint a director to U Power's board. These rights are subject to specific terms and expiration dates. The transaction is set to close on June 15, 2024, with the approval of U Power's board of directors. The details of the subscription agreement are fully outlined in Exhibit 10.1 attached to the report filed with the SEC.
U Power Limited, a Cayman Islands exempted company, has entered into a significant subscription agreement with Fortune Light Assets Ltd., a British Virgin Islands entity, on May 13, 2024. Under the agreement, Fortune Light Assets Ltd. has agreed to purchase 209,644 ordinary shares of U Power at $4.77 per share, totaling $1,000,001.88. The deal also grants the purchaser rights including one demand registration for the shares, the option to buy an additional 492,611 shares at $6.09 each, and the right to appoint a director to U Power's board. These rights are subject to specific terms and expiration dates. The transaction is set to close on June 15, 2024, with the approval of U Power's board of directors. The details of the subscription agreement are fully outlined in Exhibit 10.1 attached to the report filed with the SEC.
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