Canaan Inc. Closes US$72 Million Registered Direct Offering with Brevan Howard, Galaxy Digital, and Weiss Asset Management

Core Insights - Canaan Inc. has successfully closed a registered direct offering totaling US$72 million of its American depositary shares (ADSs), priced at US$1.131 per ADS, with each ADS representing 15 Class A ordinary shares [1][6]. Company Overview - Canaan Inc., established in 2013, specializes in ASIC high-performance computing chip design, research and development, production of computing equipment, and software services [2]. - The company is recognized for shipping the world's first batch of mining machines utilizing ASIC technology under the Avalon brand in 2013 [2]. - Canaan went public on the Nasdaq Global Market in 2019 [2].