Gate News message, April 2, Cango Company has recently completed a $75 million fundraising. Of this, $65 million came from value-added investments by members of the company’s board of directors, all of which has been received; another $10 million came from Deling. Both parties simultaneously signed a memorandum of cooperation, agreeing to collaborate in the future in the areas of mine site acquisitions and AI. This fundraising will be used to optimize the balance sheet, reduce the level of debt, and provide financial support for the company’s expansion into the AI sector. It is reported that Cango has responded with remediation measures regarding the noncompliance requirements submitted by the New York Stock Exchange. It is now in the remediation phase; all business activities are operating normally, and it is actively cooperating with the exchange’s requirements to advance the remediation work.
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