Canaan Intelligent Technology completed the first round of preferred stock financing of US$125 million, raising US$25 million

According to documents disclosed by Canaan, it has completed the first round of preferred stock financing, raising a total of US$25 million. On November 27, 2023, Canaan Vision signed a securities purchase agreement with an institutional investor. According to the agreement, Canaan Vision will issue and sell up to 125,000 Series A convertible preferred shares to investors at a price per share of 1,000. In the first round of preferred stock financing, Canaan issued 25,000 preferred shares at a price of US$1,000 per share and delivered 8,000,000 American depositary shares (ADS) through Bank of New York Mellon, each representing 15 shares of Canaan. The price of Nanyunzhi ordinary Class A shares is US$0.00000075 per ADS.