Summary by Moomoo AI
Streeterville Capital LLC, along with Streeterville Management LLC and John M. Fife, filed an amended Schedule 13G with the United States Securities and Exchange Commission on October 24, 2024, reporting a change in ownership of shares in Canaan Inc. The filing indicates that Streeterville Capital LLC directly owns 8,000,000 Class A Ordinary Shares of Canaan Inc., representing 0.23% of the class, with sole voting and dispositive power over the shares. Streeterville Management LLC, managed by John M. Fife, is reported as the Manager of Streeterville Capital LLC. The filing also notes that Streeterville is prohibited from converting any issued and outstanding Series A Convertible Preferred Shares for at least six months, following a Global Amendment dated September 26, 2024. This ownership stake is based on the 3,460,454,223 Class A ordinary shares outstanding as of December 31, 2023, as reported in Canaan's 20-F filed on April 17, 2024. The shares in question are referred to as Pre-Delivery Shares, as outlined in the Securities Purchase Agreement dated November 27, 2023, as amended.
