Univest Securities, LLC Announces Closing of $25 Million Registered Direct Offering for its Client UTime Limited (NASDAQ: WTO)
New York, Oct. 17, 2025 (GLOBE NEWSWIRE) -- Univest Securities, LLC ("Univest"), a member of FINRA and SIPC, and a full-service investment bank and securities broker-dealer firm based in New York, today announced the closing of a registered direct offering (the "Offering") of approximately $25 million for its client UTime Limited (NASDAQ:WTO)(the "Company" or "UTime"), a consumer electronics and mobile device manufacturer specializing in the design, production, and sale of smartphones, feature phones, and related accessories under both OEM/ODM and self-owned brands.
Under the terms of the securities purchase agreement, the Company has agreed to sell to five institutional investors an aggregate of 22,727,275 units (each, a "Unit"), consisting of one Class A ordinary share of the Company, par value $0.001 per share (each, a "Class A Ordinary Share"), and one Series A warrant to purchase one Class A Ordinary Share (each, a "Warrant"), at a purchase price of $1.10 per Unit in a registered direct offering. Each of the Warrants will have an exercise price of $1.10 per Class A Ordinary Share and be exercisable beginning on the date of issuance and ending on the six-month anniversary of the issuance date.
The aggregate gross proceeds to the Company were approximately $25 million，before deducting placement agent fees and other offering expenses payable by the Company.
Univest Securities, LLC acted as the sole placement agent.
The registered direct offering was made pursuant to a shelf registration statement on Form F-3 (File No. 333-278912) previously filed by the Company and declared effective by the U.S. Securities and Exchange Commission ("SEC") on June 10, 2024. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering were filed with the SEC and are available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained by contacting Univest Securities, LLC at [email protected], or by calling +1 (212) 343-8888.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying base prospectus, can be obtained at the SEC's website at www.sec.gov.
About Univest Securities, LLC
Registered with FINRA since 1994, Univest Securities, LLC provides a wide variety of financial services to its institutional and retail clients globally including brokerage and execution services, sales and trading, market making, investment banking and advisory, and wealth management. It strives to provide clients with value-add service and focuses on building long-term relationships with its clients. As a prominent name on Wall Street, Univest has successfully raised over $1.5 billion in capital for issuers across the globe since 2019 and has completed approximately 100 transactions spanning a wide array of investment banking services in various industries, including technology, life sciences, industrial, consumer goods, etc. For more information, please visit: www.univest.us.
About UTime Limited
UTime Limited is a consumer electronics and mobile communications company specializing in the design, development, and manufacture of smartphones, feature phones, and related accessories. Through both OEM/ODM services and proprietary brands, UTime provides end-to-end product solutions spanning hardware design, software customization, and after-sales support. Its principal business activities include: (i) contract manufacturing for global telecom operators and device distributors; (ii) in-house development of value-driven smart devices under the "UTime" and "Do" brands; (iii) integration of new technologies such as IoT and 5G into consumer electronics; and (iv) supply-chain and production management services for third-party clients. UTime operates with a quality-first mindset and a cost-efficient production model, aiming to deliver reliable, accessible mobile technology to emerging and established markets worldwide.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. Univest Securities LLC and the Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Univest Securities, LLC
Edric Guo
Chief Executive Officer
75 Rockefeller Plaza, Suite 18C
New York, NY 10019
Phone: (212) 343-8888
Email: [email protected]
