UTime Limited announced on September 13, 2024, that it has entered into a securities purchase agreement with certain accredited investors for a registered direct offering of 7,692,308 ordinary shares at $0.65 per share, raising gross proceeds of approximately $5 million.The offering is being conducted pursuant to the company's effective shelf registration statement on Form F-3 filed with the SEC (File No. 333-278912). The transaction is expected to close around September 16, 2024, subject to customary closing conditions.The company intends to use the net proceeds for working capital and general corporate purposes. UTime, established in 2008, focuses on providing cost-effective mobile devices globally and has recently expanded into smart electric vehicle chargers since July 2023 in response to global energy conservation demands.

UTime Limited announced on September 13, 2024, that it has entered into a securities purchase agreement with certain accredited investors for a registered direct offering of 7,692,308 ordinary shares at $0.65 per share, raising gross proceeds of approximately $5 million.The offering is being conducted pursuant to the company's effective shelf registration statement on Form F-3 filed with the SEC (File No. 333-278912). The transaction is expected to close around September 16, 2024, subject to customary closing conditions.The company intends to use the net proceeds for working capital and general corporate purposes. UTime, established in 2008, focuses on providing cost-effective mobile devices globally and has recently expanded into smart electric vehicle chargers since July 2023 in response to global energy conservation demands.