U Power Limited Announces US$16 Million Private Placement Subscribed by Existing Shareholders
U Power Limited announced that on August 3, 2026 it entered into subscription agreements with four existing shareholders to sell 9,756,100 Class A Ordinary Shares at US$1.64 per share, for aggregate gross proceeds of US$16 million, in an offshore transaction under Regulation S.
Why it matters — UCAR watchers would care because the private placement raises US$16 million in capital from existing shareholders, which affects the company's funding and share structure.