Single-cell RNA sequencing (scRNA-seq) can provide insight into gene expression patterns at the resolution of individual cells, which offers new opportunities to study the behavior of different cell types. However, it is often plagued by dropout events, a phenomenon where the expression value of a gene tends to be measured as zero in the expression matrix due to various technical defects. In this article, we argue that borrowing gene and cell information across column and row subspaces directly results in suboptimal solutions due to the noise contamination in imputing dropout values. Thus, to impute more precisely the dropout events in scRNA-seq data, we develop a regularization for leveraging that imperfect prior information to estimate the true underlying prior subspace and then embed it in a typical low-rank matrix completion-based framework, named scWMC. To evaluate the performance of the proposed method, we conduct comprehensive experiments on simulated and real scRNA-seq data. Extensive data analysis, including simulated analysis, cell clustering, differential expression analysis, functional genomic analysis, cell trajectory inference and scalability analysis, demonstrate that our method produces improved imputation results compared to competing methods that benefits subsequent downstream analysis. The source code is available at https://github.com/XuYuanchi/scWMC and test data is available at https://doi.org/10.5281/zenodo.6832477. Supplementary data are available at Bioinformatics online.