Cango Announces $65 Million Strategic Investment and Completes $10 Million Convertible Bond Financing

Odaily News: NYSE-listed Bitcoin mining company Cango announced the completion of two significant financing transactions. This includes a $65 million strategic investment, issuing a total of 49,242,424 Class A ordinary shares to two entities wholly owned by Chairman Xin Jin and Director Chang-Wei Chiu, respectively. The transaction was settled on March 31, with proceeds settled in USDT. Additionally, the company signed a securities purchase agreement with HKEX-listed financial services group DL Holdings Group Limited, issuing convertible notes with a principal amount of $10 million and warrants for up to 370,370 Class A ordinary shares, with an exercise price of $2.70 per share. (PRNewswire)