PR Newswire·Mar 19, 2026, 8:45 AM ET

U Power Limited Announces Pricing of $6.0 Million Public Offering

U Power Limited (Nasdaq: UCAR) priced an underwritten public offering of 13,360,000 Units at $0.449 per Unit.
Each Unit comprises one Class A ordinary share & one Class A warrant exercisable immediately at $0.449 per share.
Warrants expire one year post-issuance & include adjustment mechanisms reducing the exercise price to 70% on the 2nd trading day & 50% on the 5th trading day.
Holders may exercise warrants via a zero exercise price option to receive twice the number of shares available through cash exercise.
The underwriter holds a 45-day option to purchase up to an additional 2,004,000 shares &/or warrants.
Gross proceeds are expected to be approximately $6.0 million before deducting underwriting discounts & expenses.
The offering is expected to close on or about March 20, 2026, subject to customary conditions.
Maxim Group LLC is serving as the exclusive underwriter for the transaction.
The offering is conducted pursuant to a Form F-1 registration statement declared effective by the SEC on March 18, 2026.
U Power Limited provides AI-integrated solutions connecting electric vehicles with advanced energy infrastructure & transportation systems.