Senmiao Technology Ltd (AIHS) News & EventsAIHSNews & EventsSenmiao Technology Ltd

Senmiao Technology Signs LOI with Energence Power for $5M Investment

Senmiao Technology has entered into a letter of intent with Energence Power, Energence Utah and the members of Energence Utah, setting forth a proposed strategic partnership framework. Under the proposed transaction, Senmiao would make a staged $5.0M development-capital investment directly into Energence Utah, the project company developing the Energence Utah digital infrastructure campus in Duchesne County, Utah. The Energence Utah development is being advanced by Energence Utah, with Elio Energy Group engaged as the project's development services provider. Upon closing, the proposed investment is expected to mark an early step in Senmiao's transformation into a digital infrastructure company. The company expects to pursue investment and development opportunities in power-intensive data center infrastructure across the United States. Upon completion of the investment, Energence Utah is expected to serve as an initial asset supporting that strategy. The investment is intended to fund the development work required to convert Energence Utah's plan into an executable, financeable path to delivery; it is not intended to fund the full construction cost of the generation, storage or transmission assets.

Senmiao Technology Engages Advisory Firm for AI Data Center Business

Senmiao Technology announced that it has engaged a government relations and strategic advisory firm, to provide government relations and strategic advisory services in support of the company's AI data center business. The engagement is effective August 2. Under the engagement, Justin Evans will support the company with government meeting attendance and briefings, strategic introductions to town, county and state officials, identification and pursuit of applicable economic development incentives, and ongoing advisory support on local political dynamics, stakeholder positioning and communications strategy. The engagement is not limited to any single project or jurisdiction; will support the company's site development and government relations efforts across multiple states and, as opportunities arise, in international markets as the company expands its footprint.

Senmiao Technology Plans to Offer 1.35 Million Shares at $1.26 in Registered Direct Sale

Senmiao Technology entered into a securities purchase agreement with certain accredited investors providing for the issuance of 1,350,000 shares of common stock, par value $0.0001 per share, and pre-funded warrants to purchase 905,000 shares of the Common Stock, at a purchase price of $1.26 per share, in a registered direct offering for aggregate gross proceeds of approximately $2.8M. Senmiao also agreed to issue to the Investors, in a separate private placement, warrants to purchase up to 4,510,000 shares of the Common Stock. The Warrants may be issued by the Company upon the receipt of the stockholder's approval and will have a term of five and a half years, exercisable immediately upon issuance at an exercise price of $1.26 per share. The closing of the sale of the Shares is expected to occur on or about November 17, 2025, subject to satisfaction of customary closing conditions. For the purpose of obtaining the Stockholder Approval, the Company shall hold a special meeting of the stockholders within 45 calendars days following the closing of sale of the Shares. Senmiao intends to use the net proceeds from the offering for general corporate purposes and working capital.