Senmiao Technology Announces $2.8 Million Registered Direct Offering

About this update from Senmiao Technology Limited

CHENGDU, China, Nov. 14, 2025 (GLOBE NEWSWIRE) -- Senmiao Technology Limited (“Senmiao” or the “Company”) (Nasdaq: AIHS)  today announced that it has entered into a securities purchase agreement (the “Agreement”) with certain accredited investors (the “Investors”) providing for the issuance of 1,350,000 shares (the “Shares”) of common stock, par value $0.0001 per share (the “Common Stock”), and pre-funded warrants to purchase 905,000 shares of the Common Stock, at a purchase price of $1.26 per share, in a registered direct offering for aggregate gross proceeds of approximately $2.8 million. Senmiao also agreed to issue to the Investors, in a separate private placement,  warrants to purchase up to 4,510,000 shares (the “Warrant Shares”) of the Common Stock (the “Warrants”). The Warrants may be issued by the Company upon the receipt of the stockholder’s approval (the “Stockholder Approval”), and will have a term of five and a half years (5.5 years), exercisable immediately upon issuance at an exercise price of $1.26 per share. The closing of the sale of the Shares is expected to occur on or about November 17, 2025, subject to satisfaction of customary closing conditions. For the purpose of obtaining the Stockholder Approval, the Company shall hold a special meeting of the stockholders (the “Special Meeting”) within 45 calendars days following the closing of sale of the Shares. Senmiao intends to use the net proceeds from the offering for general corporate purposes and working capital. The Shares described above are being offered pursuant to a “shelf” registration statement on Form S-3 (File No. 333-274749), which was declared effective by the United States Securities and Exchange Commission (the “SEC”) on September 29, 2023. The Shares described above may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A prospectus supplement related to the offering will be filed with the SEC and available on the SEC's website at http://www.sec.gov. The Warrants and the Warrants Shares being offered in a separate private placement will be offered pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”) provided in Section 4(a)(2) and/or Rule 506(d) of Regulation D of the Securities Act. After the issuance of t...

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