Canaan (CAN) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Canaan Inc. has amended its Securities Purchase Agreement with an investor, allowing the sale of the final tranche of 50,000 Series A Convertible Preferred Shares for $50 million. The proceeds are earmarked for the expansion of digital mining sites and equipment in North America. The amendment includes provisions for restricted share sales and repurchase agreements, ensuring compliance with U.S. securities law.
For further insights into CAN stock, check out TipRanks’ Stock Analysis page.