Nano Labs Stock Soars 101.29% on $500M Convertible Notes Deal

Nano Labs' stock surged by 101.29% in pre-market trading on June 24, 2025, marking a significant milestone for the company.

Nano Labs has announced a strategic financial move by entering into a US$500 million convertible notes purchase agreement with several investors. This agreement is part of a broader initiative aimed at acquiring US$1 billion worth of BNB through convertible notes and private placements. The company's long-term goal is to hold between 5% to 10% of BNB's total circulating supply.

The convertible notes will mature in 360 days with no interest accruing on the principal amount. Holders of these notes have the option to convert them into Class A ordinary shares at an initial price of US$20 per share. This financial maneuver is designed to enhance Nano Labs' strategic growth and assess the security and value of BNB.