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Deep Tide TechFlow message: On July 10, according to PR Newswire, New York Stock Exchange-listed Bitcoin miner Cango (CANG) will merge Class A and Class B common stock at a ratio of 10:1 at 5:00 p.m. Eastern Time on July 20, meaning every 10 shares will be merged into 1 share.
The company expects that its Class A common stock will begin trading on the New York Stock Exchange under the stock code CANG, starting July 21, on a split-adjusted basis following the merger.
After the merger is completed, Cango’s total authorized share capital will remain unchanged. Fractional shares will be rounded down according to the rules and cancelled, with no compensation.