Smart Powerr shares rise 10.53% intraday after amending securities purchase agreement, closing $22.2M private placement.

Smart Powerr Corp. (NASDAQ: CREG) surged 10.53% intraday following the announcement that it amended and closed a $22.2 million private placement of equity securities. The company raised the per-unit purchase price to $1.305, resulting in gross proceeds of approximately $22.185 million through the issuance of 17 million units. Each unit included one share of common stock and a warrant for an additional share. The transaction, completed on Monday, was exempt from registration under U.S. securities laws and targeted accredited investors. The fundraising event, disclosed via a press release and SEC filing, likely boosted market confidence by demonstrating strong investor support and providing capital for operational or strategic initiatives, directly aligning with the intraday price surge.