PANews, June 2 news, according to PRNewswire, the New York Stock Exchange listed company Cango announced that its co-founders Xiaojun Zhang and Jiayuan Lin, along with its holding company, have reached a securities purchase agreement with Enduring Wealth Capital Limited (EWCL) to sell 10 million shares of Class B common stock, with a total purchase price of 70 million USD (of which 15 million USD will only be paid upon meeting specific conditions).
According to previous news, Cango announced that its board of directors has approved a stock repurchase plan, intending to repurchase issued American Depositary Shares (ADS) and Class A common stock within the next 12 months starting from April 25, 2025, with a repurchase scale of up to 30 million USD.
