Cango Inc. (CANG) Prices 4M ADS IPO at $11/ADS

Cango Inc. (NYSE: CANG) today announced the pricing of its initial public offering of 4,000,000 American depositary shares ("ADSs"), each representing two of its Class A ordinary shares, at a price to the public of US$11.00 per ADS for a total base offering size of US$44 million. In addition, Cango has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an additional 600,000 ADSs to cover over-allotments.

The ADSs are expected to begin trading on the New York Stock Exchange today under the symbol "CANG."

Morgan Stanley & Co. International plc, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Goldman Sachs (Asia) L.L.C. are acting as joint bookrunners of this offering and as the representatives of the underwriters.

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