Canaan Shares Rise After Halting of ATM Offering Program

Dow Jones

Oct 31

By Chris Wack

Canaan shares were 14% higher, at $1.41, after the company said it was halting its current at-the-market offering program.

The company established a new ATM equity offering program on Oct. 24, to replace the previous program, which had expired.

Following the renewal, Canaan sold a total of 4.8 million American depositary shares through the ATM program at a combined average price of $1.61 per ADS, resulting in total proceeds of $7.8 million.

The company said it has ceased any further sales under the program, and doesn't plan to sell additional shares through the ATM for the remainder of 2025. It may resume active sales in 2026, depending its cash requirements, market conditions and other relevant factors.

Canaan said its cash position remains solid, supported by continued business momentum. As of Sept. 30, Canaan held a cryptocurrency treasury of 1,582 bitcoins and 2,830 ethereum.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

October 31, 2025 10:51 ET (14:51 GMT)

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