Smart Powerr Corp. Announces Private Placement of Common Stock and Warrants

Smart Powerr Corp. has entered into securities purchase agreements with accredited investors for a private placement of 17,000,000 units, each consisting of one share of common stock and one warrant to purchase an additional share of common stock. The units are priced at $1.18 each, resulting in gross proceeds of approximately $20.06 million. The warrants have a five-year term and an exercise price of $1.416 per share. The company plans to use the proceeds for working capital and general corporate purposes. Additionally, the company has entered into a registration rights agreement with the investors to register the resale of the shares and warrant shares. The private placement is exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) and Regulation D.