NYSE-listed company Cango announced that its co-founders Xiaojun Zhang and Jiayuan Lin, and its holding company have entered into a securities purchase agreement with Enduring Wealth Capital Limited (EWCL) to sell 10 million shares of Class B common stock for a total purchase price of $70 million (of which $15 million will be paid only upon meeting certain conditions).
Previously, Cango announced that its board of directors has approved a share repurchase program to repurchase outstanding American depositary shares (ADS) and Class A common shares for a total of $30 million over the next 12 months beginning April 25, 2025.
Cango and EWCL enter into an agreement to sell 10 million shares of Class B common stock for an aggregate price of $70 million
2025-06-02 15:45:34
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