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.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
Lawyers and firms: get featured on Legal Desire
Share your deals, lateral moves, firm news and insights with 1M+ monthly readers: founders, law firm partners, general counsel and practising lawyers across the US, UK, EU and GCC.
Get featuredSubmit a press releaseThe advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
