Cango Secures $75 Million Through Strategic Investment and Convertible Note

2026-04-01 21:36

Cango, a Bitcoin mining company listed on the NYSE, has successfully completed two major financing transactions totaling $75 million. The company issued 49,242,424 shares of Class A common stock in a $65 million strategic investment to entities controlled by Chairman Xin Jin and Director Chang-Wei Chiu. This transaction was finalized on March 31, with payments made in USDT. Additionally, Cango entered into a securities purchase agreement with DL Holdings Group Limited, a financial services group listed in Hong Kong. This agreement includes a $10 million convertible note and warrants for up to 370,370 shares of Class A common stock, with an exercise price of $2.70 per share.

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