Cango Inc. (NYSE: CANG) (“Cango” or the “Company”) a leading Bitcoin miner leveraging its global operations to develop an integrated energy and AI compute platform, announced that Enduring Wealth Capital Limited (“EWCL”), the sole shareholder of the Company’s Class B ordinary shares with approximately 36.68% of the total voting power of the Company’s outstanding shares, decided to increase its investment in the Company by subscribing for additional Class B ordinary shares of the Company in cash.
Pursuant to an Investment Agreement dated December 29, 2025, between the Company and EWCL, the Company will issue and deliver to EWCL 7,000,000 Class B ordinary shares, each carrying 20 votes per share. EWCL will subscribe for and purchase these shares for an aggregate purchase price of US$10,500,000, implying a per-share price of US$1.5 (the “Proposed Investment”).
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Upon closing of the Proposed Investment, EWCL’s shareholding in the Company is expected to increase from approximately 2.81% to approximately 4.69% of the total outstanding shares. Correspondingly, EWCL’s voting power is expected to rise from approximately 36.68% to approximately 49.61% of the total voting power of the Company’s outstanding shares.
Closing of the Proposed Investment is subject to certain customary closing conditions, including the requisite approval by the New York Stock Exchange. The Company expects to close the transaction in January 2026. There can be no assurance that all the closing conditions will be satisfied or that the Proposed Investment will be completed.
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