Overview
- Enduring Wealth Capital Limited received 7 million Class B shares at $1.50 each, lifting its stake to about 4.71% and voting power to roughly 49.71%.
- Definitive agreements call for $65 million of Class A subscriptions at an implied $1.32 per share from entities owned by director Chang-Wei Chiu and chairman Xin Jin.
- FPL, owned by Chiu, agreed to buy 29,975,137 shares for $39,567,181, while ANL, owned by Jin, agreed to buy 19,267,287 shares for $25,432,819.
- On completion, Chiu is expected to hold about 11.99% of total shares with 6.71% voting power, and Jin about 4.70% of shares with 2.63% voting power.
- Cango says proceeds will support expansion into AI and computing infrastructure and balance-sheet strength, alongside liquidity boosted by a recent sale of 4,451 BTC for roughly $305 million reported by CoinCentral.