U Power Ltd (UCAR)

U Power Ltd Stock (UCAR) dropped by 55.59% from $1.54 to $0.6839 in the trading on Monday December 04, 2023. The reason why UCAR stock down today is due to the announcement of registered follow-on offering. U Power has announced the pricing of its best-efforts follow-on offering of up to 10,000,000 units at a purchase price of $1.20 per unit. Each unit consists of one ordinary share of the company, one Series A warrant to purchase one ordinary share of the company, and one Series B warrant to purchase one ordinary share of the company. The company expects to close the offering on or about December 6.