Canaan Inc. has entered into a sales agreement to offer and sell American Depositary Shares (ADSs) representing Class A ordinary shares for up to $270 million through an at-the-market (ATM) offering. The ADSs will be sold through multiple sales agents at prevailing market prices.The company intends to use the net proceeds for research and development, production expansion, digital mining investments, and general corporate purposes. The offering provides Canaan with flexibility to raise capital over time.The ATM offering carries risks including potential share dilution and stock price impacts. Canaan noted it will cease being an emerging growth company by December 31, 2024. The company also highlighted ongoing risks related to U.S. regulations on Chinese companies and audits.

Canaan Inc. has entered into a sales agreement to offer and sell American Depositary Shares (ADSs) representing Class A ordinary shares for up to $270 million through an at-the-market (ATM) offering. The ADSs will be sold through multiple sales agents at prevailing market prices.The company intends to use the net proceeds for research and development, production expansion, digital mining investments, and general corporate purposes. The offering provides Canaan with flexibility to raise capital over time.The ATM offering carries risks including potential share dilution and stock price impacts. Canaan noted it will cease being an emerging growth company by December 31, 2024. The company also highlighted ongoing risks related to U.S. regulations on Chinese companies and audits.