Cango enters third amendment to sales, purchase agreement

Cango (CANG) announced that it has entered into the third amendment to the on-rack sales and purchase agreement dated November 6, 2024 for the acquisitions of on-rack crypto mining machines with an aggregate hashrate of 18 Exahash per second through issuance of Class A ordinary shares of the company to the sellers. The company announced signing of the purchase agreement on November 6, 2024, and amendments to the agreement on March 26 and April 3. The third amendment further adjusted the number of shares to be issued to the sellers based on the updated total number of shares of the company outstanding on a fully diluted basis and as a result a total of 146,670,925 Class A ordinary shares of the company will be issued to the sellers at the closing, and a total of 97,780,616 bonus shares may be issued to the sellers upon the bonus triggerring event as provided in the original purchase agreement. The third amendment also implemented certain changes necessitated by the company’s sale of its PRC business, which was consummated on May 27.