The Conversation (0)
Canaan Inc. (Nasdaq: CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced that it has entered into securities purchase agreements with certain investors (the "Securities Purchase Agreements") for the issuance and sale by the Company of an aggregate of 63,660,477 American depositary shares ("ADSs"), each representing 15 Class A ordinary shares of the Company, at a purchase price of US$1.131 per ADS, in a registered direct offering.
Each Securities Purchase Agreement contains representations, warranties and other provisions customary for transactions of this nature. Subject to the satisfaction of customary closing conditions, the Company currently anticipates that the closings of the transactions contemplated by the Securities Purchase Agreement will take place on November 6, 2025. Canaan intends to use the net proceeds from this offering for
