Business
Cango Inc. Closed the Previously Announced US$10.5 Million Equity Investment from EWCL and Secured US$65 Million Additional Equity Investments
Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading Bitcoin miner leveraging its global operations to develop an integrated energy and AI compute platform, today announced that it closed the previously announced US$10.5 million equity investment from Enduring Wealth Capital Limited ("EWCL"), and entered into definitive agreements with entities wholly-owned by Mr. Xin Jin, Chairman of the Company, and Mr. Chang-Wei Chiu, a director of the Company, pursuant to which these entities agreed
About this update from Cango Inc.
[{"type":"text","content":"DALLAS, Feb. 12, 2026 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading Bitcoin miner leveraging its global operations to develop an integrated energy and AI compute platform, today announced that it closed the previously announced US$10.5 million equity investment from Enduring Wealth Capital Limited ("EWCL"), and entered into definitive agreements with entities wholly-owned by Mr. Xin Jin, Chairman of the Company, and Mr. Chang-Wei Chiu, a director of the Company, pursuant to which these entities agreed to make equity investments in the aggregate amount of US$65 million in the Company.","length":657,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Cango Inc.)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Cango Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":116,"url":"https://media.zenfs.com/en/prnewswire.com/97116cf43b8048cbbc93eda631981b4c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/OZHLntqsLfMY1lwmK6olnQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIwNDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/97116cf43b8048cbbc93eda631981b4c","width":400,"height":116}},"href":"https://mma.prnewswire.com/media/2675436/CANG_LOGO_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"As previously announced, the Company entered into an investment agreement with EWCL on December 29, 2025, and pursuant to the agreement, the Company recently issued 7 million Class B ordinary shares, each carrying 20 votes per share, to EWCL at a price of US$1.50 per share (the "Class B Investment"). After closing of the Class B Investment, EWCL's beneficial ownership increased from approximately 2.81% to approximately 4.71% of the Company's total outstanding ordinary shares, and its voting power increased from approximately 36.68% to approximately 49.71% of the Company's total voting power.","length":620,"tagName":"p"},{"type":"text","content":"To reaffirm their confidence in the Company's strategic trajectory and future business prospects, Mr. Jin and Mr. Chiu indicated to the Company their interests in making equity investments in the Company. Upon approval of the Company's audit committee and the board of directors, the Company entered into (i) an investment agreement with Fortune P...