Canaan inc. enters into securities purchase agreement for series a-1 preferred shares financing and completes first tranche closing

Provides company with access to up to us$200 million singapore , march 10, 2025 /prnewswire/ -- canaan inc. (nasdaq: can) ("canaan" or the "company"), an innovator in crypto mining, today announced that the company had entered into a securities purchase agreement (the "agreement") with an institutional investor (the "buyer"), providing the company with total gross proceeds of up to us$200 million through a series a-1 preferred shares financing (the "preferred shares financing"). first tranche closing under the preferred shares financing was completed on march 10, 2025, where an initial us$100 million has been received.
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