BNB News: Nano Labs shares, listed on Nasdaq, double after revealing a plan to acquire Binance BNB for USD 1 billion.

Key Takeaways:

Nano Labs (NA) surged over 100% after announcing plans to acquire up to one billion dollars in Binance Coin (BNB).

The firm will raise 500 million dollars through convertible bonds, aiming to own between 5% and 10% of the circulating supply of BNB.

The current market capitalization of BNB is approximately $90.3 billion.

The deal is pending due diligence and is not yet finalized.

Nano Labs shares skyrocket after revealing a strategic BNB purchase program.

Shares of Nano Labs (NASDAQ: NA) more than doubled on Monday following the company's announcement of a new bold $1 billion cryptocurrency investment plan centered around Binance's BNB token.

The high-performance chip manufacturer announced the signing of a private agreement for the sale of 500 million dollars in 360-day zero-coupon convertible bonds. The bonds are convertible at 20 dollars per share and can be exchanged for Class A common shares of Nano Labs at any time.

The proceeds from the fundraising will be used to purchase BNB, the native token of the Binance ecosystem, as part of a long-term strategy to accumulate between 5% and 10% of the circulating supply of BNB. The company also plans to raise additional funds through private placements to reach its goal of one billion dollars.$BNB #Square #BinanceAlphaAlert #Write2Earn