Canaan Inc. Closes US$72 Million Registered Direct Offering with Brevan Howard, Galaxy Digital, and Weiss Asset Management
Rhea-AI Summary
Canaan (NASDAQ: CAN) announced the closing of a registered direct offering totaling US$72.0 million on November 7, 2025.
The offering sold American depositary shares (ADSs) at US$1.131 per ADS, with each ADS representing 15 Class A ordinary shares. Institutional investors participated in the transaction announced November 4, 2025.
Positive
- Capital raised of US$72.0 million
- Institutional participation from multiple investors
Negative
- Share issuance likely increases outstanding ADSs and underlying shares
- Potential dilution for existing shareholders from the offering proceeds
News Market Reaction 4 Alerts
On the day this news was published, CAN declined 4.42%, reflecting a moderate negative market reaction. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility. The stock closed at $1.08 on that trading session. This price movement removed approximately $25M from the company's valuation, bringing the market cap to $530M at that time.
Data tracked by StockTitan Argus on the day of publication.
About Canaan Inc.
Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan's founding team shipped to its customers the world's first batch of mining machines incorporating ASIC technology under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.'s strategic and operational plans, contain forward-looking statements. Canaan Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.'s beliefs and expectations, such as expectations with regard to revenue or mining hash rate deployment, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, the ability of the Company to execute against its goals, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin; the Company's expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company's expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company's investment plans and strategies, fluctuations in the Company's quarterly operating results; competition in its industry; changing macroeconomic and geopolitical conditions, including evolving international trade policies and the implementation of increased tariffs, import restrictions, and retaliatory trade actions; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact
Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com
Christensen Advisory
Christian Arnell
Email: canaan@christensencomms.com
View original content:https://www.prnewswire.com/news-releases/canaan-inc-closes-us72-million-registered-direct-offering-with-brevan-howard-galaxy-digital-and-weiss-asset-management-302608587.html
SOURCE Canaan Inc.
FAQ
How much did Canaan (NASDAQ: CAN) raise in the November 7, 2025 registered direct offering?
What price did Canaan (CAN) sell its ADSs for in the November 7, 2025 offering?
How many Class A ordinary shares does each Canaan ADS represent in the November 7, 2025 deal?
Which investors participated in Canaan's November 7, 2025 registered direct offering?
Will the Canaan (CAN) November 7, 2025 offering dilute existing shareholders?
Where can investors find details about Canaan's November 7, 2025 registered direct offering terms?
