The Online Investor

Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Thu., Aug. 6, 6:26 AM

Slide #2. Senmiao Technology Limited Secondary Offering

Company: Senmiao Technology Limited (NASDAQ:AIHS)
Date announced: 8/3/2020
Shares Offered: 12,000,000
Date of Pricing: 8/4/2020
Price Per Share: $0.50
Secondary Offering Details: Senmiao Technology Limited ("Senmiao") (NASDAQ: AIHS), a provider of automobile transaction and related services targeting the online ride-hailing industry in China, today announced it has commenced an underwritten public offering of shares of its common stock. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. -updated 8/4- Senmiao Technology Limited ("Senmiao") (NASDAQ: AIHS), a provider of automobile transaction and related services targeting the online ride-hailing industry in China, today announced the pricing of an underwritten public offering of 12,000,000 shares of its common stock at a public offering price of $0.50 per share, before underwriting discounts and commissions. In addition, Senmiao has granted the underwriters a 45-day option to purchase up to an additional 1,800,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. All shares of common stock are being offered by Senmiao. Gross proceeds from the offering will be approximately US$6 million. The offering is expected to close on or about August 6, 2020, subject to the satisfaction of customary closing conditions.

Senmiao Technology is a holding company. Through its subsidiaries, Co. operates two operating businesses segments: automobile transaction and related services focusing on the ride-hailing industry in People's Republic of China; and online lending services, which facilitates loan transactions between Chinese investors and individual and small-to-medium-sized enterprise borrowers. Co.'s Automobile Transaction and Related Services are comprised of: facilitation of automobile transaction and financing, automobile sales, and automobile financing. Co.'s online lending platform provides access to credit for borrowers and investment returns for investors.
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Company Name: 
Senmiao Technology Ltd
Website: 
www.ihongsen.com
Sector: 
Credit Services & Lending
 

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