Global law firm Hogan Lovells acted as U.S. securities counsel to the underwriters, WestPark Capital, Inc. and Orientiert, in the Initial Public Offering (IPO) of U Power Limited on Nasdaq. The ordinary shares began trading on the Nasdaq Capital Market on April 20, 2023, under the symbol “UCAR.”
U Power Limited is a vehicle sourcing services provider with a vision to become a comprehensive EV battery power solution provider in China.
The IPO raised US$14.5 million, before deducting underwriting discounts and commissions, and other offering expenses. The funds raised will be used for the development and marketing of UOTTA-powered EVs, the manufacturing and development of UOTTA-powered battery-swapping stations, the development and upgrading of UOTTA technologies, and working capital purposes.
Head of Private Equity in Greater China, Stephanie Tang, led the Hogan Lovells team on this transaction.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.
