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Quhuo Limited (QH) sets $50M ATM ADS offering plan via AC Sunshine

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Quhuo Limited established an at-the-market equity offering program by entering a Sales Agreement with AC Sunshine Securities LLC, allowing it to offer and sell from time to time up to $50,000,000 of American Depositary Shares, each ADS representing 900 Class A ordinary shares. The ADSs will be issued under an effective shelf registration statement on Form F-3, using a base prospectus and a new prospectus supplement. Quhuo is not required to sell any ADSs, and the sales agent is not obligated to buy ADSs on a principal basis unless separately agreed.

The sales agent will use commercially reasonable efforts to sell ADSs as directed by Quhuo in transactions deemed an “at the market offering” under securities regulations. Quhuo will pay the sales agent a commission of 3.0% of the aggregate gross proceeds from each sale and will reimburse specified expenses of up to $90,000. The filing also attaches the full Sales Agreement and a Cayman Islands legal opinion regarding the validity of the underlying Class A ordinary shares.

Positive

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of August 2025

 

Commission File Number 001- 39354

 

 

Quhuo Limited

(Exact name of registrant as specified in its charter)

 

 

3F, Building A, Xin’anmen, No. 1 South Bank

Huihe South Street, Chaoyang District

Beijing, People’s Republic of China

(+86-10) 5923 6208

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x Form 40-F ¨

 

 

 

 

 

INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

 

ATM Offering Program

 

On August 26, 2025, Quhuo Limited (the “Company”) entered into a Sales Agreement (the “ATM Agreement”) with AC Sunshine Securities LLC (the “Sales Agent”), acting as the Company’s sales agent, pursuant to which the Company may offer and sell, from time to time, to or through the Sales Agent, up to $50,000,000 of the Company’s American Depositary Shares (the “Shares”), each representing nine hundred (900) Class A ordinary shares, $0.0001 par value per share, of the Company.

 

Under the ATM Agreement, the Shares will be offered and sold pursuant to a base prospectus, dated November 22, 2023 and a prospectus supplement, dated August 26, 2025, that forms a part of the Company’s shelf registration statement on Form F-3, as amended (File No. 333-273087) (the “Registration Statement”), which Registration Statement was declared effective by the Securities and Exchange Commission on November 22, 2023.

 

The Company is not obliged to sell any Shares under the ATM Agreement, and the Sales Agent is not under any obligation to purchase any Shares on a principal basis pursuant to the Agreement, except as otherwise agreed by the Sales Agent and the Company in writing pursuant to a separate agreement setting forth the terms of such sale. Subject to the terms and conditions of the ATM Agreement, the Sales Agent will use commercially reasonable efforts consistent with its normal trading and sales practices, applicable state and federal laws, rules and regulations and the rules of The Nasdaq Stock Market LLC to sell Shares from time to time based upon the Company’s instructions, including any price, time or size limits specified by the Company. Upon delivery of a sales notice, and subject to the Company’s instructions in that notice, and the terms and conditions of the ATM Agreement generally, the Sales Agent may sell Shares by any method permitted by law that is deemed to be an “at the market offering” as defined by Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The Company will pay the Sales Agent a commission of three percent (3.0%) of the aggregate gross proceeds from each sale of the Shares and has agreed to provide the Sales Agent with customary indemnification and contribution rights. The Company has also agreed to reimburse the Sales Agent for certain specified expenses of up to $90,000 in the aggregate.

 

The foregoing summary of the ATM Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the ATM Agreement, a copy of which is attached as an exhibit to this Form 6-K and incorporated by reference herein. A copy of the opinion of Maples and Calder (Hong Kong) LLP, as Cayman Islands counsel to the Company, regarding the legality of the issuance and allotment of the Class A Ordinary Shares underlying the Shares under the ATM Agreement is attached hereto as Exhibit 5.1 and is incorporated by reference herein.

 

This Form 6-K shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of Shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 

INCORPORATION BY REFERENCE

 

This Report on Form 6-K, including all the exhibits hereto, is incorporated by reference into the registration statements on Form S-8 (File No. 333-248884) and Form F-3, as amended (File No. 333-273087 and File No. 333-281997) of the Company and shall be a part thereof from the date on which this Report on Form 6-K is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

 

EXHIBIT INDEX

 

Exhibit No.   Description
5.1   Opinion of Maples and Calder (Hong Kong) LLP, Cayman Islands counsel to the Company
10.1   Sales Agreement, dated August 26, 2025, by and between the Company and the Sales Agent
23.1   Consent of Maples and Calder (Hong Kong) LLP, Cayman Islands counsel to the Company (included in Exhibit 5.1)

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

      Quhuo Limited
         
Date: August 26, 2025   By: /s/ Leslie Yu
        Name: Leslie Yu
        Title: Chairman and Chief Executive Officer

 

 

 

FAQ

What capital raising program did Quhuo (QH) establish in this filing?

Quhuo Limited set up an at-the-market equity offering program under a Sales Agreement with AC Sunshine Securities LLC, allowing sales of up to $50,000,000 of American Depositary Shares.

How many ordinary shares does each Quhuo (QH) ADS represent in the ATM program?

Each American Depositary Share offered under the program represents nine hundred (900) Class A ordinary shares of Quhuo Limited, with a par value of $0.0001 per share.

What commission will Quhuo (QH) pay on ADS sales under the ATM agreement?

Quhuo will pay AC Sunshine Securities LLC a commission of 3.0% of the aggregate gross proceeds from each sale of ADSs under the at-the-market program.

Is Quhuo (QH) required to sell ADSs under this at-the-market program?

No. Quhuo is not obliged to sell any ADSs under the Sales Agreement, and the sales agent is not obligated to purchase ADSs on a principal basis unless separately agreed in writing.

Under which registration statement is Quhuo’s (QH) ATM offering being made?

The ADSs will be offered and sold under Quhuo’s shelf registration statement on Form F-3 (File No. 333-273087), using a base prospectus dated November 22, 2023 and a prospectus supplement dated August 26, 2025.

What additional costs has Quhuo (QH) agreed to cover for the sales agent?

Quhuo has agreed to reimburse AC Sunshine Securities LLC for certain specified expenses of up to $90,000 in the aggregate, in addition to the 3.0% sales commission.
Quhuo Ltd

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