Cango inc. announces receipt of a preliminary non-binding letter of intent and formation of special committee

Shanghai , march 14, 2025 /prnewswire/ -- cango inc. (nyse: cang) ("cango" or the "company") today announced that its board of directors (the "board") recently received a preliminary non-binding letter of intent (the "letter of intent") from enduring wealth capital limited, a company established in the british virgin islands ("ewcl") expressing its non-binding intent to obtain control of the company through the following proposed transactions: (i) ewcl proposes to acquire 10,000,000 class b ordinary shares of the company from the company's co-founders, mr. xiaojun zhang and mr.
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