Senmiao Technology Limited Closes $2.8 Million Registered Direct Offering

About this update from Senmiao Technology Limited

CHENGDU, China, Nov. 20, 2025 (GLOBE NEWSWIRE) -- Senmiao Technology Limited (NASDAQ: AIHS) ("Senmiao" or the "Company"),  today announced the closing of its registered direct offering (the “Offering”). The Company has sold 1,350,000 shares (the “Shares”) of common stock and pre-funded warrants to purchase 905,000 shares of common stock at a purchase price of $1.26 per share, for aggregate gross proceeds of approximately $2.8 million, before deducting offering expenses. In connection with the Offering, Senmiao may have a separate private placement to issue warrants (the "Warrants”) to purchase up to 4,510,000 shares (the "Warrant Shares”) of common stock. The Warrants may be issued by the Company upon the receipt of the stockholders’ 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. "Completing this financing strengthens our financial foundation and provides the resources needed to pursue our growth strategy," said Haitao Liu, Senmiao's Chief Operating Officer. "We are focused on exploring new business opportunities that can diversify our revenue streams and create long-term shareholder value. We appreciate the confidence our investors have shown in our vision and remain committed to disciplined execution of our strategic plan." 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 was filed with the SEC on November 14, 2025 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 the Warrants, the Company shall file with the SEC certain registrati...

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