China-based mining device manufacturer Canaan initiated a share issue worth $ 125 million.
In a recent filing by Canaan with the U.S. Securities and Exchange Commission (SEC), for 125 million dollars Details of a financing initiative up to 100% were included.
The company said it aims to raise up to $125 million through a Series A convertible preferred stock issue to an unnamed institutional investor. Canaan, each $1,000 by price to 125,000 units much Series A convertible preferred stock will export.
Having completed the first part of this preferred share financing so far, Canaan has a total of Generated gross revenue of $25 million.
According to the filing filed with the SEC, this financial move led to Canaan’s research And strengthening their capabilities in the field of development, increase product sales And effectively manage administrative expenses Designed for. This strategic allocation allows Canaan to technological skills And presence in the market aims to develop.
In parallel with the rise of the cryptocurrency market, shares of mining companies, in particular, have made a significant premium recently. Nasdaq listed on Canaan (CAN) Although its shares have not shown a significant performance for now, it is thought that these steps of the company may lead to an increase in value.
Additionally, mining-related companies 5 months before Bitcoin halving The increase in value did not go unnoticed. Experts interpreted this latest investment initiative of Canaan as halving preparation.
According to Nasdaq data, in the last 24 hours 8.20% CAN gaining value, from $1.32 is being traded.