Nano Labs has raised $500 million through a convertible bond private placement for its BNB reserve strategy.

BlockBeats News, June 24th, Nano Labs Ltd (NASDAQ: NA) announced today that it has entered into a Convertible Bond Subscription Agreement (hereinafter referred to as the "Agreement"). Pursuant to the Agreement, the company will issue $5 billion in principal amount of convertible promissory notes ("Notes"), subscribed by multiple investors.

This agreement marks an important step for the company in achieving its strategic growth. As part of this initiative, Nano Labs will conduct a comprehensive assessment of the security and value of BNB.

Phase One Plan: Purchase $10 billion worth of BNB through convertible bonds and private placement;
Long-term Goal: Hold 5% to 10% of the total BNB circulating supply.