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

MeNews · 2026-04-08T14:58:25+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 14:58:25

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ME News message. On April 1 (UTC+8), Cango, a New York Stock Exchange-listed Bitcoin miner, announced the completion of two important financing transactions, including a strategic investment of $65.0 million. The company issued, in total, 49,242,424 Class A ordinary shares to two entities wholly controlled by its Chairman Xin Jin and Director Chang-Wei Chiu, respectively. The transaction closed on March 31, and the proceeds were 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 $10.0 million, and warrants exercisable for up to 370,370 Class A ordinary shares, with an exercise price of $2.70 per share. (Source: ODAILY)

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