TechFlow news, June 24 — According to an official announcement, Nano Labs Ltd., a Web 3.0 infrastructure provider (Nasdaq: NA), has entered into convertible bond purchase agreements with several investors to issue $500 million in convertible bonds. The bonds have a term of 360 days, carry no interest, and are convertible into the company’s Class A ordinary shares at an initial conversion price of $20 per share.
As part of its strategic initiative, Nano Labs plans a comprehensive evaluation of BNB, initially acquiring $1 billion worth of BNB through convertible bonds and private placements. Its long-term objective is to hold between 5% and 10% of BNB’s total circulating supply.
Nano Labs focuses on high-throughput computing and high-performance computing chip development, and holds Bitcoin as its primary reserve asset. The transaction remains subject to customary closing conditions, and the company advises investors not to place undue reliance on this announcement.
