Senmiao Technology Ltd. has entered into a securities purchase agreement with certain accredited investors, issuing 1,350,000 shares of common stock and pre-funded warrants to purchase 905,000 shares of common stock at $1.26 per share in a registered direct offering. In a separate private placement, the company also agreed to issue warrants to purchase up to 4,510,000 shares of common stock. These warrants, which will have a term of 5.5 years and be exercisable immediately upon issuance at an exercise price of $1.26 per share, are subject to stockholder approval. The private placement warrants and underlying shares are being offered pursuant to exemptions from SEC registration requirements. Senmiao plans to file a registration statement for the resale of the warrant shares within 30 days after obtaining stockholder approval.