Canaan Inc. Pronounces The Repurchase of Over 4.72 Million Excellent Warrants for Roughly US$6.61 Million

Home tech Computing Canaan Inc. Pronounces The Repurchase of Over 4.72 Million Excellent Warrants for Roughly US$6.61 Million
Canaan Inc. Pronounces The Repurchase of Over 4.72 Million Excellent Warrants for Roughly US.61 Million
Canaan Inc. Pronounces The Repurchase of Over 4.72 Million Excellent Warrants for Roughly US.61 Million

BeijingAnd the June 23, 2022 /PRNewswire/ – Canaan Inc. is happy. (NASDAQ: CAN) (“Canaan” or “Company”), a number one supplier of high-performance computing options, broadcasts that it has entered into buy-back agreements with sure warrant holders (“warranty holders”) Over 4.72 million The Firm’s excellent warranties (“Warranties”) for a complete buy worth Roughly 6.61 million USD. The orders have been issued by the corporate in Might 2021 Pursuant to (i) a Particular Securities Buy Settlement (“SPA”) between the Firm and the get together buying it, dated April 29, 2021and (ii) a selected Recruiting Agent Settlement between the Firm and the Underwriting Brokers, dated April 292021.

On the identical time, the events have modified the phrases of the SPA in a method that’s anticipated to offer the Firm with better flexibility with respect to future issuance of ADS, widespread inventory or equal widespread inventory, as outlined within the SPA.

The corporate wish to categorical its honest appreciation for assuring the traders of their nice help within the improvement of the corporate. Finishing a repurchase transaction will end in elimination All Collaterals are excellent and the corporate’s capital construction is simplified, giving the corporate extra funding flexibility within the capital markets.

This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase, nor shall there be any sale of securities in any jurisdiction the place such provide, solicitation or sale can be illegal.

About Canaan Firm

Based in 2013, Canaan (NASDAQ:CAN) is a know-how firm targeted on ASIC high-performance computing chip design, chip analysis and improvement, computing {hardware} manufacturing, and software program providers. The corporate’s imaginative and prescient is “Supercomputing is what we do, and social enrichment is why we do it.” Canaan has wealthy expertise in chip design and simplified manufacturing in ASIC area. In 2013, it launched and mass-produced the primary ASIC Bitcoin miner. In 2018, Canaan launched the world’s first 7nm ASIC chip, offering energy-efficient computing tools for the crypto-mining trade. That very same 12 months, Canaan launched the world’s first industrial edge-architecture RISC-V chip, additional harnessing the potential of ASIC know-how in high-performance computing and synthetic intelligence.

Secure Harbor Assertion

This announcement accommodates forward-looking statements. These statements are made beneath the “safe harbor” provisions of the US Securities Litigation Reform Act of 1995. These forward-looking statements could also be recognized by phrases corresponding to “will,” “expect,” “expect,” “future,” “intent” and “plans.” and “believes” and “estimates” and comparable statements. Statements that aren’t historic info, together with statements about Canaan Company’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain dangers and uncertainties. A variety of elements may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the requirement to shut out the buy-back of ensures and buy-back of unexecuted orders is probably not met; Advert homeowners have at the very least a 50.1% likelihood that the edit won’t be authorized by the advert homeowners and the edit won’t be accomplished. Extra info concerning these and different dangers is included within the firm’s filings with the Securities and Alternate Fee, together with its registration assertion on Kind F-1, as amended, and its annual studies on Kind 20-F, as amended. All info on this press launch and attachments is as of the date of this press launch, and Canaan Inc. Below no obligation to replace any forward-looking assertion, besides as required by relevant legislation.

Investor Relations Contact

Canaan Firm
Ms. Shi Chang
E-mail: [email protected]

ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Electronic mail: [email protected]

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SOURCE Canaan Inc.

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