Simpson Thacher-Led Crypto Miner Launches $100M IPO

Law360 (November 14, 2019, 4:10 PM EST) -- Chinese cryptocurrency miner Canaan Inc., which describes itself as the world's second-largest maker of bitcoin mining machines, plans to raise about $100 million in a U.S. initial public offering set to price next week, according to a securities filing.

Hangzhou-based Canaan, advised by Simpson Thacher & Bartlett LLP, told regulators it plans to offer 10 million shares priced between $9 and $11, raising $100 million at midpoint. Canaan expects to price its offering on Wednesday, Nov. 20, according to IPO research firm Renaissance Capital, part of a lineup of six companies set to go public next week.

Canaan said it ranked...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!