Odaily News Cango, a NYSE-listed company, announced that its co-founders Xiaojun Zhang and Jiayuan Lin, and its holding company have entered into a securities purchase agreement with Enduring Wealth Capital Limited (EWCL) to sell 10 million Class B common shares for a total purchase price of US$70 million (of which US$15 million is payable only upon satisfaction of certain conditions).
Earlier news, Cango announced that its board of directors has approved a stock repurchase plan, intending to repurchase issued American depositary shares (ADS) and Class A common shares in the next 12 months starting from April 25, 2025, with a repurchase scale of US$30 million. (Prnewswire)