Senmiao Technology announces 1-for-10 reverse stock split
Reverse Stock Split Announcement: Senmiao Technology plans to execute a 1-for-10 reverse stock split on its common stock, effective July 29, 2025, with trading resuming under the symbol "AIHS" on Nasdaq.
Board Approval and New CUSIP: The reverse stock split has been approved by the Company's Board of Directors, and the new CUSIP number for the common stock will be 817225303 post-split.
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Senmiao Technology Unveils $2.8 Million Direct Registered Offering
Securities Purchase Agreement: Senmiao Technology Limited has entered into a securities purchase agreement to issue 1,350,000 shares of common stock and pre-funded warrants for a total of approximately $2.8 million, with the closing expected around November 17, 2025.
Warrants and Stockholder Approval: The company plans to issue warrants for up to 4,510,000 shares, pending stockholder approval, and will hold a special meeting within 45 days after the share sale to obtain this approval.
Use of Proceeds: The net proceeds from the offering will be utilized for general corporate purposes and working capital.
Regulatory Compliance: The shares are being offered under a shelf registration statement with the SEC, and the warrants will be offered under an exemption from registration requirements.
