Nano Labs Ltd, a prominent Web 3.0 infrastructure and product solutions provider in China, has announced a significant expansion initiative through a US$500 million convertible notes private placement. The company aims to strategically grow by acquiring US$1 billion worth of BNB, with a long-term goal to hold 5% to 10% of BNB's total circulating supply. The convertible notes, which are set to mature in 360 days without accruing interest, can be converted into Class A ordinary shares at a set conversion price. This expansion marks a crucial step in Nano Labs' strategy to reinforce its position in the digital asset space.
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