嘉楠科技美股招股说明书(2023-11-13版)

424B51tm2330090-1_424b5.htm424B5 TABLEOFCONTENTS ProspectusSupplementdatedNovember13,2023 (ToProspectusdatedMay1,2023) FiledPursuanttoRule424(b)(5) RegistrationNo.333-255470 CanaanInc. UptoUS$148,000,000ClassAOrdinarySharesRepresentedbyAmericanDepositaryShares WehaveenteredintoanAtMarketIssuanceSalesAgreement,orthesalesagreement,with B.RileySecurities,Inc.,orB.RileySecuritiesortheSalesAgent,datedNovember10,2023,relatingtothesaleofourAmericandepositaryshares,ortheADSs,eachonerepresenting15ofourClassAordinaryshares,parvalueUS$0.00000005pershare,offeredbythisprospectussupplement.Inaccordancewiththetermsofthesalesagreement,wemayofferandsellADSsrepresentingourClassAordinaryshareshavinganaggregateofferingpriceofuptoUS$148,000,000fromtimetotimethroughortotheSalesAgent,assalesagentorprincipal. TheADSsrepresentingourClassAordinarysharesaretradedontheNASDAQGlobalMarketunderthesymbol“CAN”.AsofNovember10,2023,thelastreportedsalepricefortheADSswasUS$1.66perADS. SalesoftheADSs,ifany,underthisprospectussupplementwillbemadebyanymethodpermittedthatisdeemedan“atthemarketoffering”asdefinedinRule415undertheSecuritiesActof1933,asamended,ortheSecuritiesAct,includingsalesmadedirectlyonorthroughtheNASDAQGlobalMarketoranyotherexistingtradingmarketintheUnitedStatesforADSsrepresentingourClassAordinaryshares,salesmadetoorthroughamarketmakerotherthanonanexchangeorotherwise,directlytotheSalesAgentasprincipal,innegotiatedtransactionsatmarketpricesprevailingatthetimeofsaleoratpricesrelatedtosuchprevailingmarketpricesand/orinanyothermethodpermittedbylaw.IfweandtheSalesAgentagreeonanymethodofdistributionotherthansalesofADSsrepresentingourClassAordinarysharesonorthroughtheNASDAQGlobalMarketoranotherexistingtradingmarketintheUnitedStatesatmarketprices,wewillfileafurtherprospectussupplementprovidingallinformationaboutsuchofferingasrequiredbyRule424(b)undertheSecuritiesAct.Underthesalesagreement,theSalesAgentisnotrequiredtosellanyspecificnumberordollaramountofsecurities,butwillactasoursalesagentusingcommerciallyreasonableeffortsconsistentwithitsnormaltradingandsalespractices.Thereisnoarrangementforfundstobereceivedinanyescrow,trustorsimilararrangement. TheSalesAgentwillbeentitledtocompensationatacommissionrateupto3.0%ofthegrosssalespriceperADSsoldunderthesalesagreement.See“PlanofDistribution”beginningonpageS-17foradditionalinformationregardingthecompensationtobepaidtotheSalesAgent.InconnectionwiththesaleoftheADSsonourbehalf,theSalesAgentmaybedeemedtobean“underwriter”withinthemeaningoftheSecuritiesActandthecompensationofsuchSalesAgentmaybedeemedtobeunderwritingcommissionsordiscounts.WehavealsoagreedtoprovideindemnificationandcontributiontotheSalesAgentwithrespecttocertainliabilities, includingliabilitiesundertheSecuritiesActortheSecuritiesExchangeActof1934,asamended,ortheExchangeAct. Intheeventthatwemayselladditionalamountsunderthesalesagreement,wewillfileanotherprospectussupplementpriortomakingsuchadditionalsales. Wearean“emerginggrowthcompany”anda“foreignprivateissuer”underapplicableSecuritiesandExchangeCommissionrules,andwillbesubjecttoreducedpubliccompanyreportingrequirementsforthisprospectussupplementandfuturefilings.Seethesectionentitled“ProspectusSupplementSummary—ImplicationsofBeinganEmergingGrowthCompanyandaForeignPrivateIssuer”foradditionalinformation. Investinginoursecuritiesinvolvesahighdegreeofrisk.Beforebuyinganysecurities,youshouldreviewcarefullytherisksanduncertaintiesdescribedundertheheading“RiskFactors”beginningonpageS-8ofthisprospectussupplement,onpage4oftheaccompanyingprospectus,andinthereportswefilewiththeSecuritiesandExchangeCommissionpursuanttotheSecuritiesExchangeActof1934,asamended,incorporatedbyreferenceinthisprospectussupplement. NeithertheSecuritiesandExchangeCommissionnoranystatesecuritiescommissionhasapprovedordisapprovedofthesesecuritiesordeterminedifthisprospectussupplementortheaccompanyingprospectusistruthfulorcomplete.Anyrepresentationtothecontraryisacriminaloffense. B.RileySecurities ProspectusSupplementdatedNovember13,2023 TABLEOFCONTENTS TABLEOFCONTENTS ProspectusSupplement S ABOUTTHISPROSPECTUSSUPPLEMENT 1 Pag S S THEOFFERING 6 PROSPECTUSSUPPLEMENTSUMMARY3 S S CAUTIONARYSTATEMENTREGARDINGFORWARD-LOOKINGSTATEMENTS 12 RISKFACTORS8 S S DIVIDENDPOLICY 14 USEOFPROCEEDS13 S S DILUTION 16 CAPITALIZATION15 S S TAXATION 18 PLANOFDISTRIBUTION17 S S EXPERTS 26 LEGALMATTERS25 S S INCORPORATIONBYREFERENCE 28 WHEREYOUCANFINDMOREINFORMATION27 ABOUTTHISPROSPECTUS 1 Prospectus OURCOMPANY 3 FORWARD-LOOKINGSTATEMENTS2 RISKFACTORS 4 CORPORATEINFORMATION3 USEOFPROCEEDS5 DESCRIPTIONOFSHARECAPITAL 6 1 2 DESCRIPTIONOFPREFERREDSHARES 5 DESCRIPTIONOFAMERICANDEPOSITARYSHARES7 2 2 DESCRIPTIONOFSUBSCRIPTIONRIGHTS 8 DESCRIPTIONOFWARRANTS7 3 3 ENFORCEABILITYOFCIVILLIABILITIES 1 DESCRIPTIONOFUNITS0 3 3 PLANOFDISTRIBUTION 4 TAXATION3 3 3 EXPERTS 8 LEGALMATTERS7 3 4 INCORPORATIONOFDOCUMENTSBYREFERENCE 0 WHEREYOUCANFINDMOREINFORMATIONABOUTUS9 S-i ABOUTTHISPROSPECTUSSUPPLEMENT Thisprospectussupplementandthe