UTime Limited $50 Million Offering Under Regulation S

UTime Limited has successfully closed a private placement offering of approximately $50 million under Regulation S of the Securities Act of 1933. The offering involved the sale of 50,000,000 Units, each comprising one Class A ordinary share and one warrant to purchase a Class A ordinary share. The Units were offered at $1.00 each, with warrants exercisable at $1.10 per share and expiring on May 18, 2031. The securities were sold in reliance on an exemption from registration in accordance with Regulation S. Officers and directors have entered into lock-up agreements, restricting them from selling shares for 180 days post-offering. The net proceeds from the offering are intended for general working capital and corporate purposes.