Express
Nano Labs announces $500 million convertible note private placement for BNB strategic reserves
Summary: In a recent development, Nano Labs Ltd (NASDAQ: NA) has announced that it has signed convertible note subscription agreements with multiple investors for a total issuance of $500 million in convertible notes. The notes have a term of 360 days, with no interest on principal before maturity, and holders can choose to convert the notes ...
In a recent development, Nano Labs Ltd (NASDAQ: NA) has announced that it has signed convertible note subscription agreements with multiple investors for a total issuance of $500 million in convertible notes. The notes have a term of 360 days, with no interest on principal before maturity, and holders can choose to convert the notes into Class A common stock of the company at an initial conversion price of $20 per share.
Nano Labs plans to initially acquire $1 billion worth of BNB through this financing and private placement, with a target of holding 5% to 10% of the total circulating supply of BNB in the long term.
Tags:
Link: Nano Labs announces $500 million convertible note private placement for BNB strategic reserves [Copy]
