Senmiao Technology closes $2.8 million registered direct offering

Senmiao Technology Limited (NASDAQ: AIHS) completed a registered direct offering, raising approximately $2.8 million in gross proceeds before deducting offering expenses, according to a company statement.

The China-based automobile services company sold 1,350,000 shares of common stock and pre-funded warrants to purchase 905,000 shares at $1.26 per share.

Senmiao may conduct a separate private placement to issue warrants for up to 4,510,000 additional shares, contingent on stockholder approval. These warrants would have a 5.5-year term and an exercise price of $1.26 per share.

"Completing this financing strengthens our financial foundation and provides the resources needed to pursue our growth strategy," said Haitao Liu, the company's Chief Operating Officer.

The shares were offered under a shelf registration statement filed with the Securities and Exchange Commission that became effective September 29, 2023. A prospectus supplement related to the offering was filed November 14, 2025.

The potential warrants would be offered through a private placement under exemptions from Securities Act registration requirements. If issued, Senmiao stated it would file a Form S-1 registration statement for the warrant shares within 30 days after a special stockholders meeting.

Senmiao, headquartered in Chengdu, provides automobile transaction services in China, including vehicle sales, purchase facilitation, financing services, and operating leases.

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