Schiff Advises Placement Agent in $170M Registered Direct Offerings by Canaan Inc.

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Schiff Advises Placement Agent in $170M Registered Direct Offerings by Canaan Inc.

News Release |

Schiff Hardin LLP acted as counsel to the placement agent in connection with Canaan Inc.’s $170 million registered direct offering of its American Depositary Shares. Canaan is a leading high-performance computing solutions provider. The net proceeds from this offering will be used for research and development and expansion of production scale, and working capital and general corporate purposes.

FT Global Capital, Inc. acted as the sole bookrunning placement agent for the offering, which closed on May 5, 2021.