U Power Limited (NASDAQ:UCAR) (the "Company" or "U Power"), a provider of AI-integrated solutions for next-generation energy grids and intelligent transportation systems, today announced the pricing of an underwritten public offering of 13,360,000 Units, on a firm commitment basis, at a price to the public of $0.449 per Unit. 

The gross proceeds from the offering, before deducting underwriting discounts and other offering expenses, and excluding any proceeds from exercise of the Warrants, are expected to be approximately $6.0 million. The closing of the offering is expected to occur on or about March 20, 2026, subject to the satisfaction of customary closing conditions.