DALLAS, April 2, 2026 /PRNewswire/ — Cango Inc. (NYSE: CANG), a number one Bitcoin miner leveraging its international operations to develop an built-in power and AI compute platform, at present introduced two vital capital transactions: the closing of a US$65.0 million strategic funding from members of Firm management, and the execution of a US$10.0 million convertible word financing settlement with DL Holdings Group Restricted (HKEX: 1709) (“DL Holdings”), a Hong Kong-listed monetary companies group. The Firm and DL Holdings have additionally entered right into a memorandum of understanding (“MOU”) establishing a strategic cooperation framework.
Closing of US$65.0 Million Strategic Funding
Pursuant to the definitive funding agreements beforehand introduced on February 12, 2026, the Firm issued and offered an mixture of 49,242,424 Class A extraordinary shares to 2 entities, every wholly-owned by Mr. Xin Jin, Chairman of the Firm’s board of administrators, and Mr. Chang-Wei Chiu, a director of the Firm, respectively. The transaction closed on March 31, 2026, producing internet proceeds equal to US$65.0 million, settled in USDT, reinforcing the Firm’s capital construction and reflecting management’s confidence in its strategic route.
US$10 Million Convertible Word Financing and Strategic Partnership with DL Holdings
The Firm entered right into a securities buy settlement with DL Holdings. Pursuant to the SPA, the Firm issued and offered to DL Holdings a US$10,000,000 convertible word and a warrant to buy as much as 370,370 Class A extraordinary shares at an train worth of US$2.70 per share. Proceeds are meant for upstream acquisitions and enlargement into AI and computing infrastructure.
The word matures on April 1, 2028, bears no curiosity (besides upon default), and is convertible at US$1.62 per share starting April 1, 2027. The warrant is exercisable instantly and expires on April 1, 2028.
As well as, the Firm entered into an MOU with DL Holdings, outlining a proposed strategic cooperation framework. Beneath the MOU, DL Holdings has expressed its intention to make a number of strategic investments together with the Firm, with an mixture potential worth of as much as US$10 million. The contemplated investments are meant to assist the Firm’s initiatives in cryptocurrency mining amenities and AI.
These transactions are key steps in executing the Firm’s beforehand disclosed monetary technique getting into 2026: to strengthen its steadiness sheet, scale back leverage, and safe liquidity for its pivot towards AI infrastructure.
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