Nano Labs authorizes $25mln share repurchase program within 12 months.

Nano Labs Ltd has announced a share repurchase program, authorizing the purchase of up to $25 million worth of its shares within the next 12 months, subject to market conditions. The Company may repurchase shares through open market transactions, privately negotiated transactions, block trades or any combination thereof, with the number of shares and timing of repurchases depending on factors such as price, trading volume, and general market conditions.

Nano Labs Ltd (Nasdaq: NA), a leading Web 3.0 infrastructure and product solution provider, has announced a share repurchase program authorizing the purchase of up to $25 million worth of its shares within the next 12 months, subject to market conditions. The program, authorized by the company's board of directors, may be executed through open market transactions, privately negotiated transactions, or block trades, depending on price, trading volume, and general market conditions Nano Labs Ltd Announces up to US$25.0 Million Share Repurchase Program^[1].

Under the share repurchase program, Nano Labs may periodically repurchase its ordinary shares in compliance with applicable securities laws and its insider trading policy. The number of shares to be repurchased and the timing of repurchases will depend on various factors, including price, trading volume, and market conditions, as well as the company's working capital requirements and general business conditions. The program may be adjusted by the board and is planned to be funded from the company's existing cash balance and proceeds from the liquidation of crypto assets Nano Labs Ltd Announces up to US$25.0 Million Share Repurchase Program^[1].

Nano Labs is committed to the development of high throughput computing (HTC) chips and high-performance computing (HPC) chips, and has built a comprehensive flow processing unit (FPU) architecture that integrates the features of both HTC and HPC. The company has also positioned itself in the crypto assets space, adopting BNB as its primary reserve asset and establishing an integrated platform covering multiple business verticals Nano Labs Ltd Announces up to US$25.0 Million Share Repurchase Program^[1].