UTime closes $50 million private placement under Regulation S offering

• UTime closed a private placement under Regulation S on May 19, 2026, raising USD 50 million in gross proceeds.
• The deal sold 50,000,000 units at USD 1 per unit, each unit made up of one Class A ordinary share plus one warrant to buy four Class A ordinary shares.
• The warrants are exercisable immediately at USD 1.1 per share, expire on May 18, 2031, and are subject to customary beneficial ownership limits.
• Officers and directors agreed to a 180-day lock-up from closing.
• Net proceeds are earmarked for working capital and general corporate purposes.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. UTime Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-024824), on May 21, 2026, and is solely responsible for the information contained therein.