Nano Labs Raises $500 Million in Convertible Note Private Placement for BNB Reserve Strategy

Odaily News Nano Labs Ltd (NASDAQ: NA) today announced that it has signed a Convertible Notes Subscription Agreement (the “Agreement”) pursuant to which it will issue $500 million in aggregate principal amount of convertible promissory note bonds (the “Bonds”) to be subscribed by a number of investors.
This agreement is an important step in the company’s strategic growth. As part of this plan, Nano Labs will conduct a comprehensive assessment of the security and value of BNB.
Phase 1 plan: Purchase $1 billion worth of BNB through convertible bonds and private placements;
Long-term goal: Hold 5% to 10% of the total BNB circulation.