secwatch.observer — SEC 8-K summary
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Issuer:     Senmiao Technology Ltd (AIHS)
CIK:        0001711012
Form:       8-K
Filed at:   2021-11-12T23:59:59+00:00
Accession:  0001104659-21-137640
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Senmiao closes $5M private placement of Series A convertible preferred and warrants
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- Raised $5M from institutional investors via Series A Convertible Preferred Stock convertible at $0.68/share.
- Issued warrants to purchase up to 7,352,942 shares at $0.82/share, exercisable after 6 months and 1 day; 5-year term.
- Proceeds to accelerate business plan and fund working capital; FT Global Capital acted as placement agent.
- Correction: No lock-up agreements were entered into for directors, officers or 5% holders, contrary to prior 8-K statement.
- Company must file resale registration statement within 20 days; SEC effectiveness target within 60-110 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1711012/000110465921137640/0001104659-21-137640-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1711012/000110465921137640/tm2132637d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-137640

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