UTime Limited Announces Initial Public Offering Pricing

UTime Limited (“UTime” or the “Business”) (NASDAQ: UTME at https://www.webull.com/quote/nasdaq-utme), a mobile technology production company dedicated to delivering cost competitive goods and solutions to customers worldwide, announced today the pricing of its initial public offering of 3,750,000 shares of its ordinary shares to the public at a price of US$4.00 per share for cumulative gross proceeds to UTime of US$15 million.

The ordinary shares are due to begin trading on the Nasdaq Capital Market under the symbol “UTME” on April 6, 2021. Subject to customary closing terms, the offering is scheduled to close on April 8, 2021.

UTime Limited (NASDAQ: UTME), a Chinese low-cost mobile computer manufacturing firm, made its stock market debut on Tuesday, and the first day was a success. The UTime market jumped by as much as 875 percent on the first day of trading, and it appears that the stock will be a focal point for investors for the rest of the week. In its IPO, the firm sold 3.75 million shares at a price of $4 each, with the aim of raising $15 million in gross proceeds.

Concerning UTime Limited

UTime Limited is a mobile technology production organisation dedicated to supplying low-income individuals from developed and developing markets with cost-effective devices and solutions. UTime Limited’s primary business is the design, construction, manufacturing, distribution, and brand management of cell phones, accessories, and related consumer electronics.

UTime Limited places a premium on systematic management and organises manufacturing in accordance with stringent high-quality requirements and emerging technology.(NASDAQ: UTME), Limited is constantly striving to increase its overall manufacturing quality level, as well as to enhance its cost management processes.

Statements of Intention

Statements in this news release about future hopes, intentions, and opportunities, as well as all other statements about non-historical evidence, can be considered “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These claims contain, but are not limited to, statements about the planned start and end dates of trading.

Related phrases are used to describe forward-looking remarks, but these distinguishing terms do not appear in all forward-looking statements. Actual outcomes can vary significantly from those suggested by such forward-looking statements due to a variety of important factors, including: market dynamics and the execution of the public offering on the expected terms or at all, as well as other factors addressed in the “Risk Factors” portion of the preliminary prospectus filed with the SEC. The forward-looking statements in this press release apply only as of the date of this release, and the Company expressly disclaims any duty to amend them. Before investing, you can check more stocks like nyse hyln at https://www.webull.com/quote/nyse-hyln.