CHENGDU, China, Aug. 4,
2020 /PRNewswire/ -- Senmiao Technology Limited ("Senmiao")
(NASDAQ: AIHS), a provider of automobile transaction and related
services targeting the online ride-hailing industry in China, today announced the pricing of an
underwritten public offering of 12,000,000 shares of its common
stock at a public offering price of $0.50 per share,
before underwriting discounts and commissions. In
addition, Senmiao has granted the underwriters a 45-day option
to purchase up to an additional 1,800,000 shares of its common
stock at the public offering price, less underwriting discounts and
commissions. All shares of common stock are being offered
by Senmiao. Gross proceeds from the offering will be
approximately US$6 million. The offering is expected to close
on or about August 6, 2020, subject to the satisfaction of
customary closing conditions.
The Benchmark Company, LLC and Axiom Capital Management, Inc.
are acting as joint book-running managers for the offering.
A registration statement on Form S-3 (including a preliminary
prospectus describing the terms of the offering) relating to these
securities has been filed with the U.S. Securities and
Exchange Commission ("SEC") and has become effective. The
offering will be made only by means of a prospectus supplement and
accompanying prospectus. A copy of the final prospectus supplement
and accompanying prospectus relating to the offering will be filed
with the SEC and may be obtained, when available, for
free on the SEC's website located at https://www.sec.gov. When
available, electronic copies of the final prospectus supplement and
accompanying prospectus relating to the offering may be obtained by
contacting The Benchmark Company, Attn: Prospectus Department,
150 E. 58th Street, 17th floor, New York, NY 10155 or by
calling 212-312-6700 or
by emailing prospectus@benchmarkcompany.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Senmiao Technology Limited
Headquartered in Chengdu,
Sichuan Province, Senmiao provides
automobile transaction and related services including sales of
automobiles, facilitation and services for automobile purchase and
financing, management, operating lease, guarantee and other
automobile transaction services aimed principally at the growing
ride-sharing market in Senmiao's areas of operation in China. For more information about Senmiao,
please visit: http://www.senmiaotech.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995,
including the statements regarding the proposed public offering.
The offering is subject to market and other conditions, and there
can be no assurance as to whether or when the offering may be
completed or as to the actual size or terms of the offering. These
forward-looking statements also are subject to risks, uncertainties
and assumptions, including those detailed from time to time in the
Senmiao's filings with the SEC, and represent Senmiao's views only
as of the date they are made and should not be relied upon as
representing Senmiao's views as of any subsequent date. Senmiao
undertakes no obligation to publicly revise any forward-looking
statements to reflect changes in events or circumstances.
For more information, please contact:
At the Company:
Yiye Zhou
Email: edom333@ihongsen.com
Phone: +86 28 6155 4399
Investor Relations:
Rene Vanguestaine
Christensen
Email: rvanguestaine@ChristensenIR.com
Phone: +86 178 1749 0483
Linda Bergkamp
Christensen
Email: lbergkamp@ChristensenIR.com
Phone: +1 480 614 3004
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SOURCE Senmiao Technology Limited