Nasdaq-listed Canaan Inc. has confidently secured $30 million through its recently completed Series A-1 preferred stock financing, as reported by Odaily. On November 19, 2024, the company entered into a securities purchase agreement with a prominent institutional investor. Under this agreement, Canaan issued and sold 30,000 shares of Series A-1 convertible preferred stock at $1,000 per share.
This successful financing represents a pivotal achievement for Canaan Inc., reinforcing its financial foundation and advancing its strategic goals. The transaction underscores the company’s commitment to attracting robust investment and expanding its market influence. Comprehensive details of the financing are available in the company’s Form 6-K filing, submitted on November 20, 2024, offering an in-depth view of the deal and its potential impact on Canaan’s future trajectory.