Cango (CANG) said Wednesday it has extended the deadline to close its planned acquisitions of crypto mining machines via the issuance of class A shares.
The deadline for the share-settled deals is now July 31, the company said, adding the previous deadline was March 31.
Cango said that it has received a preliminary non-binding letter of intent from Enduring Wealth Capital proposing the acquisition of control of the company by Enduring Wealth and the disposal of Cango's business in China.
The deals proposed in the letter of intent may affect some provisions in the purchase agreement for the crypto miners, Cango said, adding it reached an amendment agreement with the sellers to extend the deadline.
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