Senmiao Technology to issue 1.35M shares at $1.26 in registered direct offering

Senmiao Technology (AIHS) entered into a securities purchase agreement with certain accredited investors providing for the issuance of 1,350,000 shares of common stock, par value $0.0001 per share, 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 $2.8M. Senmiao also agreed to issue to the Investors, in a separate private placement, warrants to purchase up to 4,510,000 shares of the Common Stock. The Warrants may be issued by the Company upon the receipt of the stockholder’s approval and will have a term of five and a half 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 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.