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Canaan Inc. Enters into Securities Purchase Agreement for Series A-1 Preferred Shares Financing and Completes First Tranche Closing

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2 years ago

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Provides Company with access to up to US$200 million

SINGAPORE, March 10, 2025 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), an innovator in crypto mining, today announced that the Company had entered into a Securities Purchase Agreement (the “Agreement”) with an institutional investor (the “Buyer”), providing the Company with total gross proceeds of up to US$200 million through a Series A-1 Preferred Shares financing (the “Preferred Shares Financing”). First tranche closing under the Preferred Shares Financing was completed on March 10, 2025, where an initial US$100 million has been received. An additional US$100 million is expected to be received in the near term in connection with the closing of the second tranche, subject to certain terms and conditions. We remind investors to review our recent public filings related to the Preferred Shares Financing.

The net proceeds from the financing will be used to fund activities necessary to support the Company’s growth, including research and development, expansion of production scale, manufacturing or investing in digital mining sites and equipment for deployment in North America and sales globally, including any acquisition or disposition of assets from or between the Company’s subsidiaries, and other general corporate purposes.

“We are grateful for the ongoing support of our long-term investor, whose latest investment reflects its confidence in Canaan’s strategy and in the future of Bitcoin,” said Nangeng Zhang, chairman and chief executive officer of Canaan. “In our February Bitcoin mining and operational update, released on March 3, we announced our preliminary unaudited financial results for the fourth quarter ended December 31, 2024, reporting expected revenue that exceeded our guidance and an anticipated narrowed gross loss. Despite recent Bitcoin price fluctuations, we remain confident in our outlook and reaffirm our revenue guidance and expansion target of 10 EH/s self-mining capacity in North America by mid-2025. Our confidence is driven by sustained high demand for our products and our strong foundation in R&D, supply chain management, and financial compliance as a public company. We believe that this investment will enable us to accelerate R&D, strengthen our wafer supply chain, and seize additional mining opportunities. 

“Because we believe our stock price is deeply undervalued, we have maintained discipline in our at-the-market (the “ATM”) fundraising, with an average selling price above US$2.”  Zhang continued, “At current stock price levels,  we view the US$200 million transaction as a strategic alternative that complements our existing ATM program. We will share more details regarding our financials in our upcoming quarterly earnings call.”

The Agreement contains customary representations, warranties and agreements by the Company and the Buyer, and indemnification obligations of the Company against certain liabilities, including for liabilities under the Securities Act of 1933, as amended. The provisions of the Agreement, including the representations and warranties contained therein, are not for the benefit of any party other than the parties to such agreement and are not intended as a document for investors and the public to obtain factual information about the current state of affairs of the Company. Rather, investors and the public should look to other disclosures contained in the Company’s filings with the SEC.

The foregoing description does not purport to be complete and is qualified in its entirety by reference to the full text of the Company’s current report on Form 6-K dated March 10, 2025, announcing the execution of the Agreement and the closing of the first tranche financing under the Agreement.

This press release is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any securities, which is made only by means of a prospectus supplement and related prospectus. There will be no sale of these securities in any jurisdiction in which such an offer, solicitation of an offer to buy or sale would be unlawful.

About Canaan Inc.

Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan’s founding team shipped to its customers the world’s first batch of mining machines incorporating ASIC technology in bitcoin‘s history under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, Canaan Inc.’s anticipated financing plans and its intended use of proceeds contain forward-looking statements. Canaan Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin; the Company’s expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company’s expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company’s investment plans and strategies, fluctuations in the Company’s quarterly operating results; competition in its industry; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

###

Investor Relations Contact

Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com

ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com

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SOURCE Canaan Inc.

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SoftwareOne named a Leader in the 2026 Gartner® Magic Quadrant™ for SAM Managed Services

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24 minutes ago

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October 26, 2026

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Empowering clients with proven SAM excellence

MILWAUKEE, Oct. 26, 2026 /PRNewswire/ — SoftwareOne (SIX: SWON), a leading global software and cloud solutions provider, today announced that it has been named a Leader in the 2026 Gartner® Magic Quadrant™ for SAM Managed Services for the seventh consecutive year.

SoftwareOne believes this recognition reflects its commitment to helping clients achieve measurable value from their cloud, software and AI investments as licensing models continue to shift.

Software asset management (SAM) gives organizations visibility and control over their on-premises IT, cloud and SaaS estates. SoftwareOne helps customers simplify these portfolios, improving financial control and managing licensing and audit risks, so they can direct resources towards business priorities and innovation.

“Seven consecutive years as a Leader matters to us because we believe that consistency is what our customers actually buy. The technology landscape continues to grow more complex as organizations navigate an ever-expanding mix of software licensing, cloud consumption, and AI-driven business models,” says Raphael Erb, CEO, SoftwareOne. “Our customers need a partner whose judgement holds up through all of it. We see this recognition as validation of the expertise, commitment, and customer focus that our teams bring to every engagement, every day.”

Gartner delivers actionable, objective insight to executives and their teams. Its expert guidance and tools enable faster, smarter decisions and stronger performance on an organization’s mission-critical priorities.

The Gartner Magic Quadrant evaluates vendors based on their Ability to Execute and Completeness of Vision. We are honored to be included among the recognized vendors in this important report. Learn more about the Magic Quadrant.

Helping clients unlock value from IT portfolios

SoftwareOne’s ITAM and FinOps portfolio brings together software asset management, FinOps and AI optimization, SaaS management, IT sustainability advisory and vendor management. These services help clients cut waste, manage audit risks and go into publisher negotiations, with a clear picture of what technology they use and what it all costs.

With global delivery at scale, SoftwareOne helps organizations optimize and simplify AI cloud and software investments across hybrid environments. AI-enabled automation powers licensing intelligence, compliance and cost control, so clients can reduce spend and make confident decisions about where to reinvest.

Positioned alongside SoftwareOne in the Magic Quadrantii as A Leader is Anglepoint, an independent company that is majority-owned by SoftwareOne. 

About the Gartner Magic Quadrant

The Gartner Magic Quadrant evaluates providers on Completeness of Vision and Ability to Execute. Leaders execute well against their current vision and are well positioned for tomorrow. SoftwareOne views its recognition as a reflection of the consistency of its SAM managed services and the work of its delivery teams.

Source

Gartner, Magic Quadrant for Software Asset Management Managed Services, By Yolanda Harris, Jaswant Kalay, and Rob Schafer. October 2026

Gartner disclaimers and trademarks

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner, and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and are used herein with permission. All rights reserved.

About SoftwareOne

SoftwareOne is a global software and cloud solutions provider and distributor. With a presence in over 70 countries and a team of about 12,000 professionals, we combine global scale and local expertise to help partners and customers optimize costs, source, and procure, accelerate growth, and navigate complex IT environments with confidence. Leveraging deep capabilities in cloud, software, and data and AI, the company empowers organizations to modernize, innovate, and unlock the full value of their technology investments. Headquartered in Switzerland, SoftwareOne is listed on the SIX Swiss Exchange and Euronext Oslo Børs under the ticker symbol SWON. Visit us at www.softwareone.com

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SOURCE SoftwareONE

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TrueLoyal® Appoints Erica Thompson as Head of Loyalty

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25 minutes ago

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October 26, 2026

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Longtime retail and loyalty expert will lead loyalty strategy and program services for TrueLoyal’s brand partners

SAN ANTONIO, Oct. 26, 2026 /PRNewswire/ — TrueLoyal®, the loyalty and advocacy platform for consumer brands, today announced the appointment of Erica Thompson as Head of Loyalty. Thompson will lead TrueLoyal’s loyalty strategy, customer retention architecture, and lifecycle engagement work as the company continues to help brands turn consumer loyalty into a dynamic growth engine.

TrueLoyal® names longtime retail and loyalty expert Erica Thompson as Head of Loyalty.

Thompson brings more than 20 years of leadership in customer relationship management (CRM), brand loyalty, and digital marketing strategy. Throughout her career, she has led data-driven loyalty programs and omnichannel customer experiences for leading consumer brands, including serving as a retail Chief Marketing Officer and as Senior Vice President at Stride Rite. She also advised retail clients as a consultant with loyalty agency Kobie Marketing, has advised brands through her firm, ACIRE Consulting Group, and held senior marketing roles at PetSmart, New York & Company, and HSN. Her background in behavioral analytics, tiered reward structures, and customer lifecycle engagement strengthens TrueLoyal’s ability to help brands design and run programs that perform.

“Brands have to earn loyalty through compelling, continuous experiences, and points and discounts alone won’t get them there,” said Jacek Materna, CEO of TrueLoyal. “Erica’s proven ability to build scalable loyalty engines and translate customer insights into genuine brand devotion makes her the perfect leader for our next chapter.”

“I’ve spent my career on the brand side of loyalty, and the programs I’m proudest of were the ones built around what customers actually cared about,” said Thompson. “That’s the work I want to keep doing. I’m here to roll up my sleeves with our brands, understand what their customers need, and help them build loyalty that’s worth something to both sides.”

At TrueLoyal, Thompson will lead the company’s enterprise loyalty frameworks, its Program Strategy and managed loyalty services, and cross-functional alignment across product and client strategy. Her appointment reflects TrueLoyal’s continued investment in loyalty expertise as the company grows with CPG and D2C hybrid brands.

About TrueLoyal

TrueLoyal® is a loyalty and advocacy platform that helps brands turn the customer experience into repeat purchases and long-term growth. Brands use Rewards to run their loyalty program and Fan Club™ to bring community and user-generated content together, all connected to the commerce systems they already use. TrueLoyal also offers services that range from Program Strategy to fully managed loyalty operations. Learn more at trueloyal.com.

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SOURCE TrueLoyal

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THE POWER HOUR™ LAUNCHED FROM TIKTOK HEADQUARTERS IN NEW YORK CITY WITH A BOLD MISSION: MOVE THE WORLD FOR ONE HOUR

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25 minutes ago

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October 26, 2026

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The Power Play Impact Fund and The Power Hour™ Began a 365-Day Global Countdown to an October 2027 Guinness World Records Attempt Turning Movement Into Impact for the Next Generation

NEW YORK, Oct. 26, 2026 /PRNewswire/ — What could happen if, for one hour, the world moved together?

Recently in New York City, The Power Hour™ and Power Play Impact Fund officially launched an ambitious global movement built around a remarkably simple idea: invite people everywhere to dedicate one hour to physical movement and turn that collective action into meaningful impact for youth and communities.

The announcement was made during an exclusive gathering hosted at TikTok Headquarters in New York City on the opening day of Advertising Week New York, bringing together professional athletes, business leaders, Family Offices, health and wellness leaders, innovators, and changemakers.

October 5 was day one of a 365-day global countdown. In October 2027, The Power Hour™ will bring people across countries, communities, companies, and cultures together for 60 synchronized minutes of physical movement as part of an ambitious Guinness World Records attempt. Think walk, run, dance, yoga: move the way you want. It is being built as an inclusive global movement rather than a traditional fitness event. Participation in the global movement is FREE, removing one of the barriers to joining.

The Founder and Visionary behind The Power Hour™and Power Play Impact Fund is Angella Goran. A former professional cyclist and world-class multi-sport athlete, she has built a career spanning entrepreneurship, technology, financial innovation, sport, and social impact. Her experience as an athlete and her belief in the lifelong opportunities created through sport, wellness, and community became the foundation for The Power Hour™.

“I’ve always believed that one hour of collective action can become the starting point for something that lasts far longer,” said Goran. “When millions of people around the world move together for 60 minutes, we create more than a record. We create lasting impact for youth and communities across physical, mental, nutritional and financial wellness.”

The Power Hour™is excited to partner alongside some incredible athletes such as:

Jerome Williams, former NBA Player, founder of Shooting for PeaceAngela Ruggiero, 4x Olympic Medalist, Founder of Sports Innovation Lab & Women’s Sports Club (acquired by GENIUS in 2026)The Gasol Foundation, Founded by Pau Gasol (6x NBA All-Star, 2x NBA Championship Winner, 3x OLY and Chair of IOC Athletes’ Commission)Dr. Jen Welter (1st NFL Female Coach/Player, 2x Gold Medalist Team USA, Founder of Grrridiron Girls Foundation & “The Day in the Life Of” event series)

The vision is to harness technology, social platforms, connected fitness, and community activations to transform millions of individual actions into one extraordinary collective moment. But breaking a record isn’t the ultimate goal. Creating impact is.

At the heart of The Power Hour™ is the Power Play Impact Fund, created to help raise awareness and funding for youth and community initiatives across four interconnected areas of wellness: physical, mental, nutritional, and financial. The Power Hour™ believes that movement belongs to everyone. There is no qualifying time. No required sport. No expectation of athletic ability.

The Uptown Agency in Dallas has partnered with The Power Hour™ to provide support on communications and other projects.

Just move.
ONE WORLD. ONE HOUR. ONE MOVEMENT.
The countdown starts now.

ABOUT THE POWER HOUR™

The Power Hour™ is a global movement and social-impact initiative created to unite people through 60 minutes of physical movement. Through sport, technology, community and collective action, The Power Hour™ aims to connect individuals, athletes, businesses and communities around the world while creating meaningful impact for the next generation. The inaugural global event is planned for October 2027 and will pursue a Guinness World Records attempt through synchronized participation around the world. To learn more, please visit https://www.powerhour.world/.

ABOUT POWER PLAY IMPACT FUND

The Power Play Impact Fund is the impact engine behind The Power Hour™, supporting a mission focused on investing in and donating to youth and community initiatives for physical, mental, nutritional, and financial wellness. Through partnerships, charitable giving, fundraising, and The Power Hour™ global movement, the initiative seeks to direct attention and resources toward programs that create greater opportunity, well-being, and accessibility for youth and communities. The Power Play Impact Fund operates with LOHAS as its fiscal sponsor administrator.

ABOUT THE UPTOWN AGENCY

The Uptown Agency is an award-winning, full-service marketing and branding partner dedicated to engineering differentiation through creative excellence and data-driven strategy. Recognized as a leader in brand growth, the agency combines industry-leading expertise in brand strategy, creative development, digital marketing, web development, and PR to deliver bespoke solutions that activate audiences and drive measurable results. The Uptown Agency is a true extension of client teams, prioritizing deep business understanding over templated approaches. Their work spans strategic brand overhauls, custom-coded web experiences, and high-impact campaigns that blend cultural relevance with technical precision. Explore their work at www.theuptownagency.com.

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SOURCE The Power Hour

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