Global Bitcoin mining and energy infrastructure company, Cango Inc., has announced that, pursuant to the authorization granted by the Company’s shareholders at the extraordinary general meeting held on June 24, 2026, its board of directors has determined the effective date and share consolidation ratio for its previously approved share consolidation.
This Friday’s announcement noted the company’s plan to effect the consolidation of authorized, issued, and outstanding Class A ordinary shares and Class B ordinary shares on a 10:1 ratio. This structure implies that every ten shares will be consolidated into one share of the same class. According to the announcement, the share consolidation will take effect at 5:00 P.M. Eastern Time on July 20, 2026.
A Process Driven by Regulatory Defense
According to reports, Cango’s latest structural change is driven by regulatory price defense. It is worth noting that the Bitcoin miner originally received a delisting warning from the New York Stock Exchange (NYSE) after its Class A stock, CANG, consistently closed below the $1.00 minimum threshold over a consecutive 30-day window.
CANG shares had heavily depreciated, hovering around $0.23 before the latest consolidation announcement. Cango is merging the shares to artificially scale up the baseline stock price and keep the listing compliant.
CANG Trading Timeline and Status
Following the July 20 consolidation, Cango expects the Class A ordinary shares to begin trading on NYSE on a “post-share consolidation basis” at the opening of trading on July 21, under the Company’s existing ticker symbol CANG and a new CUSIP number G1820C 110.
Cango highlighted that upon effecting the share consolidation, its authorized share capital will remain $100,000 and will be divided into 100,000,000 ordinary shares with a par value of $0.001 each, comprising 92,067,428 Class A ordinary shares with a par value of $0.001 each, and 7,932,572 Class B ordinary shares with a par value of $0.001 each.
What Becomes of Fractional Shares?
In the meantime, Cango noted that it will not issue fractional shares in connection with the share consolidation. It further clarified that upon fulfillment of the process, and when a shareholder is otherwise entitled to receive a fractional share, the total number of shares to be received by that shareholder will be rounded down to the next whole share.
However, any fraction of a share resulting from the share consolidation will be canceled and returned to the pool of authorized but unissued shares in the capital of the Company without the payment of any consideration to the holder thereof.
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