secwatch.observer — SEC 8-K summary
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Issuer:     Senmiao Technology Ltd (AIHS)
CIK:        0001711012
Form:       8-K
Filed at:   2021-11-08T23:59:59+00:00
Accession:  0001104659-21-135421
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Senmiao Technology raises $5M via private placement of Series A Preferred and warrants
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- $5M aggregate from institutional investors: 5,000 Series A Preferred Shares at $1,000 each plus warrants to acquire common shares at $0.82.
- Preferred convertible into common at $0.68/share (adjusted to greater of $0.41 or 85% of closing bid); warrants exercisable for 5 years starting 6 months after issuance.
- Net proceeds to accelerate business plan and fund working capital; offering expected to close on or about November 10, 2021.
- FT Global Capital acts as placement agent, receiving 7.5% cash fee and warrants for 7.5% of conversion shares at $0.68 per share.
- Company to file resale registration statement within 20 days; must be effective within 60-110 days or pay 1.5% monthly penalty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1711012/000110465921135421/0001104659-21-135421-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1711012/000110465921135421/tm2132210d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-135421

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