Bitcoin Mining Manufacturer Canaan To Sell ADSs
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Canaan, ASIC microprocessors manufacturing company and the China-based blockchain server, released a statement on 26th November 22, revealing that they will collaboratively offer and sell ADSs.
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These ADSs represent the class A ordinary shares with an aggregate offer price of up to US$ 750,000,000.
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The company has also shared that it will offer and sell its own ADSs with a value of 6,400,563,270 ordinary A shares.
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Canaan, ASIC microprocessors manufacturing company and the China-based blockchain server, released a statement on 26th November 22, revealing that they will collaboratively offer and sell ADSs. These ADSs represent the class A ordinary shares with an aggregate offer price of up to US$ 750,000,000.
Publications also state that Canaan willingly agreed with H.C. Wainwright & Co., amended on 23rd November 2022, catering for the trade for ADSs. Canaan will sell their American depository-based shares. Each share represents class A ordinary shares with a US $ 0.00000005 per share.
The company has also shared that they will offer and sell their own ADSs with a value of 6,400,563,270 ordinary A shares with an aggregate offering price of UD$ 750,000,000 that are issued for development and research purposes for the expansion of production sale of the company.
Moreover, the statement also apprehends that neither the SEC nor the state security commission has either approved or disapproved of these securities and their exchange. The company also anticipates that the bitcoin price may fall and energy prices would rise.
Posted Date: May 26, 2023
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