China’s Nano Labs Targets $1 Billion in BNB With $500M Raise via
0Adoption
BNB
China
The company announced that it has signed a convertible promissory notes purchase agreement with several unnamed investors.
Crypto Journalist
Amin Ayan
Crypto Journalist
Amin Ayan
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Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...
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China-based Web3 infrastructure firm Nano Labs has entered into a $500 million convertible note agreement as part of a broader strategy to accumulate Binance Coin (BNB) holdings worth up to $1 billion.
Key Takeaways:
Nano Labs has signed a $500 million convertible note deal to begin accumulating BNB.
The deal’s completion is not guaranteed and depends on standard closing conditions.
The company aims to eventually hold 5–10% of BNB’s circulating supply as part of a broader digital asset strategy.
In a Tuesday press release, the company announced that it has signed a convertible promissory notes purchase agreement with several unnamed investors.
The notes mature in 360 days and carry no interest. Investors will have the option to convert the debt into Nano Labs’ Class A ordinary shares at a fixed price of $20 per share, subject to adjustment.
The notes are unsecured and repayment is due...
https://cryptonews.com/news/chinas-nano-labs-targets-1-billion-in-bnb-with-500m-raise-via-convertible-notes/
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