NYSE-listed Cango discloses receipt of acquisition offer from Enduring Wealth Capital Limited

According to a report by PR Newswire, Cango Inc., a company listed on the New York Stock Exchange, has disclosed that it has received a preliminary non-binding letter of intent from Enduring Wealth Capital Limited (EWCL) to acquire 10 million Class B ordinary shares from the company's co-founder, with the purchase price to be determined by both parties. The letter of intent also requires the Cango founder to voluntarily convert all remaining Class B ordinary shares held by him into Class A ordinary shares and resign from the board of directors and executive positions.