Odaily News Cango, a New York Stock Exchange-listed Bitcoin mining company, disclosed that it has received a preliminary non-binding letter of intent from Enduring Wealth Capital Limited (EWCL) to acquire 10 million Class B common shares from the company's co-founders at a price to be agreed upon by both parties. In addition, the letter of intent also requires the founder of Cango to voluntarily convert all remaining Class B common shares held by him into Class A common shares and resign from the board of directors and senior management positions. (PRNewswire)
Earlier news, Cango, a Bitcoin mining company listed on the New York Stock Exchange, announced that its board of directors has approved a stock repurchase plan, intending to repurchase issued American Depositary Shares (ADS) and Class A common stock in the next 12 months starting from April 25, 2025, with the repurchase scale reaching US$30 million.