#USA #Dallas #Bitcoin Mining #Cango Inc. #NYSE:CANG

Cango Inc. Announces Key Details for Share Consolidation

Cango Inc., a prominent player in the Bitcoin mining sector, has made significant developments regarding its share structure. In a recent announcement, the company confirmed the effective date and the consolidation ratio for its shares, set to take effect shortly. This update follows the approval from shareholders at the extraordinary general meeting that took place on June 24, 2026.

Timeline and Ratios

On July 20, 2026, at 5:00 PM Eastern Time, Cango will implement a 10-for-1 consolidation ratio. This means that for every ten shares held by shareholders, they will receive one share post-consolidation. This strategic move is expected to reflect positively on its stock performance in the long term.

Class A and Class B ordinary shares will be consolidated under the same ratio, retaining their respective structures. With the consolidation, the company's authorized share capital will remain at $100,000, composed of 100,000,000 ordinary shares. This includes 92,067,428 Class A and 7,932,572 Class B shares, both retaining a par value of $0.001 each.

Trading Impact

Cango anticipates that its Class A shares will begin trading under the new ratio at the open of the New York Stock Exchange on July 21, 2026, while maintaining the existing ticker symbol of 'CANG.' Subsequently, these changes are expected to optimize the company's market position, potentially improving overall shareholder value.

It is noteworthy that, in this consolidation, no fractional shares will be issued. In the event that a shareholder ends up with a fractional share, the total shares received will be rounded down to the nearest whole number. The fraction itself will not provide any monetary compensation to shareholders but will return to the pooled authorized but unissued shares.

About Cango Inc.

Cango Inc. has been rapidly evolving within the digital asset landscape since its entrance into Bitcoin mining operations in November 2024. The company is ambitiously working to build a robust, integrated platform that will serve as a backbone for the future digital economy. With diverse operations spanning North America, the Middle East, South America, and East Africa, Cango's strategic initiatives include pilot projects in integrated energy solutions and distributed AI computing.

Moreover, Cango continues to leverage its digital presence through AutoCango.com, which specializes in the international export of used cars. This multifaceted approach not only widens its market reach but also enhances its operational flexibility.

Conclusion

In summary, Cango Inc.'s announcement about its share consolidation is a significant step towards revitalizing its corporate structure. As the company prepares for this transition, all eyes will be on how these changes will affect its stock performance and future ventures. Stakeholders and potential investors will be keenly observing the progress from July 20, when the consolidation takes effect. With an innovative business model and a commitment to expanding its global footprint, Cango is poised to make waves in the burgeoning sector of digital assets and beyond.