Canaan Inc. Closes Series A-1 Preferred Shares Financing

Core Viewpoint - Canaan Inc. has successfully closed a Series A-1 preferred shares financing, raising a total of US$30 million [1][2]. Group 1: Financing Details - The financing involved the issuance of 30,000 Series A-1 Convertible Preferred Shares at a price of US$1,000.00 per share [2]. - The total gross proceeds from this financing round amount to US$30 million [1]. Group 2: Company Background - Canaan Inc. is a technology company established in 2013, focusing on ASIC high-performance computing chip design, research and development, production of computing equipment, and software services [5]. - The company is known for shipping the world's first batch of mining machines utilizing ASIC technology in 2013 under the brand name Avalon [5]. - Canaan completed its initial public offering on the Nasdaq Global Market in 2019 [5].