AIHS - Senmiao Technology announces $5M private placement

Senmiao Technology (AIHS -3.2%) has entered into a securities purchase agreement for a private placement of ~$5M of its Series A Convertible Preferred Stock to initially acquire up to an aggregate number of shares of common stock of the Co. at $0.68/share. The purchase price for the Preferred Shares shall be $1,000 per each Preferred Share. The Company intends to use the net proceeds from the offering to further accelerate the Co.'s business plan and fund any additional working capital needs. The offering is expected to close on or about November 10, 2021.

For further details see:

Senmiao Technology announces $5M private placement