Nano Labs Ltd (NASDAQ code: NA) announced that it has signed convertible note subscription agreements with multiple investors, issuing a total of $5 billion in convertible notes. The notes have a term of 360 days, with no interest on the principal before maturity, and holders can choose to convert the notes into Class A common stock of the company within the term, at an initial conversion price of $20 per share.Nano Labs plans to initially acquire $10 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.
