Schiff Counsels Placement Agent in Senmiao’s $7M Registered Direct Offering

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Schiff Counsels Placement Agent in Senmiao’s $7M Registered Direct Offering

News Release |

Schiff Hardin LLP acted as counsel to the placement agent in Senmiao Technology Limited’s registered direct offering of more than five million shares of common stock at $1.38 per share for aggregate gross proceeds of $7 million.

Senmiao is a provider of automobile transaction and related services targeting the online ride-hailing industry in China. Net proceeds from the offering will be used for business expansion, including the purchase of automobiles and development of an online ride-hailing platform.

FT Global Capital, Inc. acted as the exclusive placement agent in connection with the offering, which closed February 11, 2021.