Smart Powerr Corp Secures $5.3 Million in Private Stock Offering

Smart Powerr Corp (NASDAQ: CREG) announced on February 19, 2025 that it has closed a private offering in which it sold approximately 8,029,851 shares of common stock at a purchase price of $0.67 per share. According to the company’s SEC filing, the aggregate purchase price was up to $5,380,000, with net proceeds of approximately $5.3 million after deducting estimated offering expenses. Smart Powerr indicated that the funds will be used for working capital and general corporate purposes.

The transaction was executed under a series of securities purchase agreements entered into on February 18, 2025, with payments received and the deal closing on February 19, 2025. In connection with the offering, the company also disclosed that its CEO and Chairman, Mr. Guohua Ku, participated by purchasing 2,925,373 shares at the same price, resulting in a beneficial ownership of approximately 22.9% of the company’s issued and outstanding common stock. The offering was conducted pursuant to an exemption from registration under Section 4(a)(2) of the Securities Act and Regulation S, with the shares having not been registered under the Securities Act.

In addition to the capital raise, Smart Powerr stated that it intends to use its best efforts to file a registration statement with the U.S. Securities and Exchange Commission covering the resale of the shares within 180 days from the securities purchase agreements. The filing further noted that the transaction was negotiated on an arm’s length basis.

This offering marks another financing step for Smart Powerr as it continues to bolster its capital base for future operational and strategic initiatives.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Smart Powerr’s 8K filing here.

Smart Powerr Company Profile

Smart Powerr Corp. engages in the waste energy recycling business in China. The company provides energy saving and recovery facilities for various energy intensive industries; waste energy recycling systems for use in nonferrous metal plants; and clean-technology and energy-efficient solutions to reduce air pollution and energy shortage problems.