AIHS - Senmiao Technology to raise $6.5M in direct stock offering

Senmiao Technology ([[AIHS]] -25.7%) announces direct offering of $6.5M of its common stock priced at $1.175 per share. In addition, the company will issue certain warrants to the investors in this offering to purchase a total of 5,531,916 common shares at a purchase price of $1.05 per share.The company intends to use the net proceeds to further accelerate its business plan and fund any additional working capital needs.FT Global Capital acted as the exclusive placement agent for the offering.Offering is expected to close on May 13, 2021.Previously (May 6): Senmiao Technology reports 16% growth in April completed orders

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Senmiao Technology to raise $6.5M in direct stock offering