On June 24, technology company Nano Labs Ltd (NASDAQ: NA) officially announced that it has signed a private placement agreement for convertible bonds with a total value of up to $500 million. According to the agreement, Nano Labs will issue convertible debt securities convertible into common stock with a total face value of $500 million, registered for purchase by multiple investors.
This is seen as a strategic move to strengthen Nano Labs' long-term development plan, while also marking a strong shift of the company towards the digital asset sector, focusing on BNB – the native token of the Binance ecosystem.
In the initial phase of the plan, Nano Labs will proceed to purchase BNB worth $1 billion through a combination of convertible bonds and private placements. The company also stated that it will conduct a comprehensive assessment of the security level, potential value, and long-term role of BNB in its strategic investment portfolio.
Nano Labs' long-term goal is to hold between 5% to 10% of the total circulating supply of BNB. If the plan is successfully implemented, this could make Nano Labs one of the largest holders of BNB in the market, while opening up a new direction for combining traditional finance and digital assets.
Source: Allinstation by HC Capital
