UTime Ltd

UTime Ltd (UTME) priced its initial public offering on Apr 7, 2021 at $4.00 per share, raising $15M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $33.1M. Boustead was lead-left underwriter, joined by Brilliant Norton Company and Fosun Hani. Ellenoff Grossman & Schole, Maples and Calder, B & D Law Firm and Vaish Associates Advocates advised the company and Ortoli Rosenstadt advised the underwriters.

UTime Ltd designs, develops, produces and sells mobile phones, accessories and related consumer electronics, aiming to give low-income consumers in markets such as the United States, India, South Asia and Africa access to updated mobile technology. It also provides OEM and ODM electronics manufacturing services for other brands.

Status

IPO

Ticker

UTME

Exchange

Nasdaq Capital Market

Priced

Apr 7, 2021

IPO price

$4.00

Raised

$15M

Market cap at IPO price

$33.1M

First filed

Mar 18, 2020

Underwriters

Boustead, Brilliant Norton Company and Fosun Hani

Company counsel

Ellenoff Grossman & Schole, Maples and Calder, B & D Law Firm and Vaish Associates Advocates

Underwriters' counsel

Ortoli Rosenstadt

Sector

Industrials & materials

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.