NYSE-listed Bitcoin miner Cango to conduct 10-for-1 reverse stock split

NYSE-listed Bitcoin mining company Cango (CANG) announced it will conduct a 10-for-1 reverse stock split of its common shares at 9:00 p.m. UTC on July 20. The measure follows approval from a special shareholders' meeting on June 24. Under the split, 10 Class A shares will be combined into one Class A share, and 10 Class B shares will be combined into one Class B share. The post-split Class A common stock will begin trading at the U.S. market open on July 21 under the existing ticker 'CANG'.