🚀 Cango Receives Preliminary Offer for Share Acquisition
#Cango #Bitcoin #mining #shareacquisition #EnduringWealthCapital #commonshares #stockrepurchase #AmericanDepositaryShares #ClassA #ClassB
According to Odaily, New York Stock Exchange-listed Bitcoin mining company Cango has received a preliminary non-binding letter of intent from Enduring Wealth Capital Limited (EWCL). The proposal aims to acquire 10 million Class B common shares from the company's co-founder, with the purchase price to be negotiated by both parties. Additionally, the letter requests that Cango's founder voluntarily convert all remaining Class B common shares into Class A common shares and resign from board and executive positions. Previously, Cango announced that its board had approved a stock repurchase plan, intending to buy back issued American Depositary Shares (ADS) and Class A common shares over the next 12 months starting April 25, 2025, with a repurchase scale reaching $30 million.#Cango #Bitcoin #mining #shareacquisition #EnduringWealthCapital #commonshares #stockrepurchase #AmericanDepositaryShares #ClassA #ClassB
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