Cango announces $65 million strategic investment and completes $10 million convertible bond financing

MeNews · 2026-04-08T16:48:10+00:00

Cango announces the completion of two financing transactions, including a $65 million strategic investment and the issuance of convertible notes to DL Holdings totaling $10 million, aimed at supporting its business development.

MeNews

2026-04-08 16:48:10

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ME News message, April 1 (UTC+8), New York Stock Exchange-listed Bitcoin miner Cango announced the completion of two important financing transactions, including a $65 million strategic investment. It will issue a total of 49,242,424 shares of Class A common stock—through two entities wholly controlled by the Chairman Xin Jin and the Director Chang-Wei Chiu, respectively. The transaction closed on March 31, and the proceeds will be settled in USDT; in addition, the company signed a securities purchase agreement with DL Holdings Group Limited, a financial services group listed on the Hong Kong Stock Exchange, to issue to it a convertible note with a principal amount of $10 million and warrants for up to 370,370 shares of Class A common stock, with an exercise price of $2.70 per share. (Source: ODAILY)

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