Cango closes US$65 million strategic investment from chairman Xin Jin, director Chiu

Reuters04-01

Cango closes US$65 million strategic investment from chairman Xin Jin, director Chiu

Cango closed a USDT-settled strategic equity investment worth US$65 million from entities owned by board chairman Xin Jin and director Chang-Wei Chiu.
Deal issued 49,242,424 Class A ordinary shares, strengthening liquidity for AI and energy expansion.
Separately, Cango issued a US$10 million convertible note to DL Holdings.
Note can convert into Class A shares from April 1, 2027 at an initial conversion price of US$1.62 per share.
Financing also included a warrant for up to 370,370 Class A shares at an exercise price of US$2.7 per share.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Cango Inc. published the original content used to generate this news brief on April 01, 2026, and is solely responsible for the information contained therein.

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While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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