Cango konvertibl note finansing: $65M equity buy-in and $10M DL Holdings deal

Cango Inc. (NYSE: CANG) talk say dem don finish two funding steps wey join dia AI compute platform and crypto mining push. Di moves include Cango convertible note financing from DL Holdings Group Limited (HKEX: 1709) and leadership people buy-in for equity. 1) $65.0M equity placement. Cango sell 49,242,424 Class A ordinary shares to entities wey Chairman Xin Jin and director Chang-Wei Chiu fully own. Di proceeds settle for USDT and dem use am to strong dia capital structure and liquidity, just like di terms weh dem announce before on Feb 12, 2026. 2) $10.0M convertible note financing. Under di securities purchase agreement, Cango issue US$10,000,000 convertible note plus one warrant for up to 370,370 Class A shares. Key terms: no interest under normal conditions; maturity April 1, 2028; conversion at US$1.62 per share starting April 1, 2027. Di warrant fit exercise immediately and e expire April 1, 2028. Cango also sign MOU with DL Holdings for possible extra strategic investments up to US$10M. Di company paint di convertible note financing as part of dia 2026 plan to reduce leverage and fund AI infrastructure through dia Ecohash subsidiary, including integrated energy and distributed AI inference pilots. Traders suppose to note Cango recent history of mining-era losses and post-halving pressure, and market show skepticism—CANG shares reportedly drop to around $0.40 by April 1—meaning investors want proof say Ecohash and dia energy-to-AI strategy fit deliver. For crypto traders, dis one mainly balance-sheet and capacity-funding news for a BTC miner not direct BTC policy/flow catalyst.