FX.co ★ Canaan Enters Securities Purchase Agreement With Institutional Investor - Quick Facts

Canaan Inc. (CAN) has announced its entry into a securities purchase agreement with an institutional investor. Through this agreement, the company will issue and sell up to 30,000 Series A-1 Preferred Shares, each priced at $1,000.00. The funds generated from the sale of these shares are earmarked for the company and its subsidiaries to manufacture or invest in digital mining sites and equipment intended for deployment or sale in North America. This may include the acquisition or transfer of assets either from or between its subsidiaries.