Cango Secures $65 Million Investment Through Share Issuance

Cango has finalized a strategic investment worth $65 million by issuing 49,242,424 Class A ordinary shares to entities owned by Chairman Xin Jin and Director Chang-Wei Chiu. According to NS3.AI, the transaction was completed on March 31, with proceeds settled in USDT. Additionally, Cango entered into a securities purchase agreement with DL Holdings Group Limited, involving $10 million in convertible notes and warrants for up to 370,370 Class A ordinary shares at an exercise price of $2.70.