Cango Extends Deadline to Close Share-Settled Crypto Miner Acquisitions

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Cango Extends Deadline to Close Share-Settled Crypto Miner Acquisitions

, MT Newswires - 10:58 AM ET 3/26/2025 default

10:58 AM EDT, 03/26/2025 (MT Newswires) -- Cango ( CANG ) said Wednesday it has extended the deadline to close its planned acquisitions of crypto mining machines via the issuance of class A shares.

The deadline for the share-settled deals is now July 31, the company said, adding the previous deadline was March 31.

Cango ( CANG ) said that it has received a preliminary non-binding letter of intent from Enduring Wealth Capital proposing the acquisition of control of the company by Enduring Wealth and the disposal of Cango's ( CANG ) business in China.

The deals proposed in the letter of intent may affect some provisions in the purchase agreement for the crypto miners, Cango ( CANG ) said, adding it reached an amendment agreement with the sellers to extend the deadline.

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