Nano Labs Announces $500 Million Convertible Note Issuance

According to PANews, Nano Labs Ltd, listed on Nasdaq under the code NA, has announced the signing of a convertible note subscription agreement with several investors. The company plans to issue convertible notes totaling $500 million. These notes have a term of 360 days and do not accrue interest before maturity. Holders have the option to convert the notes into Class A common shares of the company at an initial conversion price of $20 per share source: https://www.binance.com/en/square/post/26045140063401?utm_source=BinanceNewsRSS