Canaan (CAN) announced that it has entered into securities purchase agreements with certain investors for the issuance and sale by the company of an aggregate of 63,660,477 American depositary shares, each representing 15 Class A ordinary shares of the company, at a purchase price of $1.131 per ADS, in a registered direct offering. The company currently anticipates that the closings of the transactions contemplated by the Securities Purchase Agreement will take place on November 6.
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