Nasdaq-Listed Crypto Chipmaker Nano Labs Plans $1B BNB Accumulation
Nano Labs Ltd (Nasdaq: NA), a prominent Web3 infrastructure provider in China, has announced a $500 million convertible notes offering, marking a significant step in its strategic expansion.
The funding will be used to support the company’s broader crypto initiatives, including a bold move to accumulate a substantial stake in Binance Coin (BNB).
$500M Convertible Notes Offering
Under the terms of the newly signed agreement, Nano Labs will issue unsecured convertible promissory notes with no interest, maturing 360 days after issuance. The notes are convertible into Class A ordinary shares of the company at an initial price of $20 per share, subject to adjustment.
The financing structure offers flexibility to investors while giving Nano Labs access to substantial non-dilutive capital unless conversions occur. However, the company emphasized that the transaction is still subject to standard closing conditions and cautioned that completion is not guaranteed.
BNB Accumulation Strategy
In tandem with the financing, Nano Labs unveiled plans to acquire up to $1 billion in BNB, the native token of Binance Chain, through a combination of convertible notes and private placements. The company aims to eventually hold 5% to 10% of BNB’s total circulating supply.
The move positions Nano Labs as a significant institutional holder of BNB and signals growing confidence in the long-term value and utility of the Binance ecosystem. A company spokesperson stated that the BNB investment is part of a larger effort to assess and integrate high-value crypto assets into Nano Labs’ strategic portfolio.
If fully executed, the funding and BNB acquisition could represent one of the largest single-token commitments by a publicly listed Web3 company to date.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
