NEW YORKMay 5, 2026 /PRNewswire/ — Univest Securities, LLC, a member of FINRA and SIPC and a full-service investment banking and securities brokerage firm, today announced that it has completed a $1.2 million registered direct offering (the “Offering”) for its client, UTime Limited (the “Company” or “UTime”) (NASDAQ: WTO). UTime is a global technology company engaged in the design, development, and manufacturing of mobile devices and smart hardware products.
Pursuant to the terms of the securities purchase agreement, the Company agreed to sell an aggregate of 1,000,000 of the Company’s Class A ordinary shares, par value $0.50 per share (the “Shares”) (or pre-funded warrants in lieu thereof), to certain institutional investors at a purchase price of $1.20 per share in the Offering.
The gross proceeds to the Company from the Offering were approximately $1.2 million, before deducting placement agent fees and other offering expenses payable by the Company.
Univest Securities, LLC acted as the sole placement agent for the Offering.
The registered direct offering was conducted pursuant to a shelf registration statement on Form F-3 (File No. 333-278912) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on June 10, 2024. A final prospectus supplement and accompanying base prospectus relating to the terms of the Offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Electronic copies may be obtained by contacting Univest Securities, LLC via email at info@univest.us, or by mail to: Univest Securities, LLC, 75 Rockefeller Plaza, Suite 25A, New York, NY 10019, or by calling +1 (212) 343-8888. Additionally, electronic copies of the Offering-related documents are available on the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, 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 Univest Securities, LLC
Univest Securities, LLC has been registered with FINRA since 1994 and provides a wide range of financial services to its global institutional and retail clients, including brokerage and execution services, sales and trading, market making, investment banking and advisory, and wealth management. It is committed to delivering value-added services to its clients and focuses on building long-term relationships. As a well-known institution on Wall Street, Univest Securities has successfully raised over $1.8 billion in capital for global issuers and completed approximately 100 transactions covering a variety of investment banking services since 2019, spanning industries such as technology, life sciences, industrials, and consumer goods. For more information, please visit: www.univest.us.
About UTime Limited
UTime Limited, trading under the NASDAQ stock symbol WTO, is a company engaged in the design, development, production, sales, and brand operations of mobile devices in China and globally. The company is committed to offering cost-effective products and serving a broad customer base.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, objectives, strategies, future events or performance, and underlying assumptions and other statements that are not historical facts. When the Company uses words such as “may,” “will,” “intends,” “should,” “believes,” “expects,” “anticipates,” “projects,” “estimates,” or similar expressions that are not solely related to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks, including but not limited to uncertainties related to market conditions and whether the offering will be completed on the anticipated terms or at all, as well as other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, investors should not place undue reliance on any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available at www.sec.gov. Univest Securities, LLC and the Company undertake no obligation to publicly revise these forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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