Nano Labs Announces $500 Million Convertible Notes Sale to Accumulate BNB
Nasdaq-listed Nano Labs (NA), a designer of high-throughput computing chips, has revealed plans to sell $500 million in convertible notes to fund the purchase of Binance’s BNB token for its corporate treasury.
Key details of the initiative:
- Convertible Notes: Unsecured, zero-coupon notes maturing in 360 days, convertible into Class A shares at $20 per share.
- Treasury Strategy: Part of a broader plan to acquire $1 billion in BNB, targeting 5%–10% of its circulating supply.
- Market Impact: BNB’s current market cap stands at $90.3 billion**. Nano Labs’ shares surged **100%** post-announcement, trading at **$22.
Strategic Rationale
Nano Labs emphasized a thorough evaluation of BNB’s security and long-term value before execution. The agreement remains pending closure.
👉 Why institutional investors are bullish on BNB
Industry Context
This move follows a similar proposal by former hedge fund executives to raise $100 million for BNB acquisitions via a Nasdaq-listed shell company.
FAQ Section
Why is Nano Labs investing in BNB?
Nano Labs aims to diversify its treasury with high-potential crypto assets, leveraging BNB’s ecosystem growth and utility within Binance’s platform.
How will the convertible notes work?
Investors can convert notes into Nano Labs shares at $20 or receive principal repayment after 360 days.
What’s the long-term goal?
The firm targets owning 5%–10% of BNB’s supply, signaling strong confidence in its value proposition.
👉 Explore BNB’s latest price trends
Keywords: Nano Labs, BNB token, convertible notes, crypto treasury, Binance, Nasdaq, institutional investment
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