Nano Labs Announces US$500 Million Convertible Notes Private Placement for BNB Treasury Strategy
Rhea-AI Summary
Nano Labs (Nasdaq: NA) has announced a significant financial move, entering into a US$500 million convertible notes purchase agreement with several investors. The notes will mature in 360 days with no interest and are convertible into Class A ordinary shares at an initial price of US$20 per share.
This agreement is part of a larger strategic initiative where Nano Labs plans to acquire US$1 billion worth of BNB through convertible notes and private placements. The company's long-term goal is to hold 5% to 10% of BNB's total circulating supply.
Positive
- Secured US$500 million in convertible notes financing
- No interest accruing on the notes, reducing financing costs
- Strategic plan to acquire US$1 billion worth of BNB
- Ambitious goal to hold 5-10% of BNB's total circulating supply
Negative
- Notes mature in just 360 days, creating short-term repayment pressure
- Potential dilution risk for shareholders if notes are converted
- No guarantee of closing, subject to customary conditions
- Significant exposure to BNB cryptocurrency price volatility
News Market Reaction
On the day this news was published, NA gained 36.36%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
HONG KONG, June 24, 2025 (GLOBE NEWSWIRE) -- Nano Labs Ltd (Nasdaq: NA) ("we," the "Company" or "Nano Labs"), a leading Web 3.0 infrastructure and product solution provider in China, today announces that it has entered into a convertible notes purchase agreement (the “Agreement”) under which the Company has agreed to issue, and several investors have agreed to subscribe for, a convertible promissory notes in the aggregate principal amount of US
The Notes will mature in 360 days following the issuance, with no interest accruing on the outstanding principal amount. During 360 days from the date of this Notes, the Notes are convertible, in whole or in part, into the Class A ordinary shares of the Company (the “Ordinary Shares”) at the option of the holder thereof. The conversion price is initially US
The closing under the agreement is subject to customary closing conditions. There is no guarantee that closing will happen in full or at all. Investors should not place on due reliance on this press release.
The Agreement marks an important step in the Company’s strategic growth. As part of this initiative, Nano Labs will conduct a thorough assessment of the security and value of BNB. In the initial phase, the Company plans to acquire US
About Nano Labs Ltd
Nano Labs Ltd is a leading Web 3.0 infrastructure and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips and high performance computing (“HPC”) chips. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. In addition, it has established Bitcoin value investment and adopted Bitcoin as primary reserve asset. Nano Labs has established an integrated solution platform covering three main business verticals, including HTC solutions and HPC solutions. The HTC solutions feature its proprietary Cuckoo series chips, which have become alternative Application-Specific Integrated Circuit (“ASIC”) solutions for traditional GPUs. Nano Lab’s Cuckoo series are one of the first near-memory HTC chips available in the market*. For more information, please visit the Company’s website at: ir.nano.cn.
*According to an industry report prepared by Frost & Sullivan.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company's plan to appeal the Staff's determination, which can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
For investor and media inquiries, please contact:
Nano Labs Ltd
Email: ir@nano.cn
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
FAQ
What is the size and terms of Nano Labs' (NA) convertible notes offering?
How much BNB does Nano Labs (NA) plan to acquire?
What is the conversion price for Nano Labs' (NA) convertible notes?
When do Nano Labs' (NA) convertible notes mature?
Is the closing of Nano Labs' (NA) convertible notes offering guaranteed?
