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Nano Labs Announced Updates to Holders of ADRs Regarding Amendment to the Deposit Agreement and Termination of ADR Facility
HANGZHOU, China, Jan. 3, 2024 /PRNewswire/ -- Nano Labs Ltd (Nasdaq: NA) ("we," "the Company," or "Nano Labs"), a leading fabless integrated circuit design
About this update from Nano Labs Ltd
[{"type":"text","content":"HANGZHOU, China, Jan. 3, 2024 /PRNewswire/ -- Nano Labs Ltd (Nasdaq: NA) (\"we,\" \"the Company,\" or \"Nano Labs\"), a leading fabless integrated circuit design company and product solution provider in China, announced today that Citibank N.A., the depositary (the \"Depositary\") of the Company's American depositary receipts (the \"ADRs\"), distributed to all holders and beneficial owners of the Company's ADRs a notification (the \"Amendment and Termination Notice\") on December 29, 2023 regarding the amendment to the deposit agreement, dated December 19, 2023, as amended, by and among the Company, the Depositary, and all holders and beneficial owners of the ADRs (the \"Deposit Agreement\"), and the termination of ADR facility for the Company's American depositary shares (the \"ADSs\"). The effective date of the termination of the Deposit Agreement will be February 1, 2024 (the \"Effective Date\").\n\n \n \n \n \n \n \n\n \nBelow is a copy of the Amendment and Termination Notice to the ADR holders:\nNOTICE OF AMENDMENT OF THE DEPOSIT AGREEMENT AND TERMINATION OF ADR FACILITY FOR\nNANO LABS LTD AMERICAN DEPOSITARY SHARES\nTo Holders of American Depositary Shares (\"ADSs\") of Nano Labs Ltd\nCOMPANY:\nNano Labs Ltd, an exempted company incorporated with limited liability under the laws of the CaymanIslands.\nDEPOSITARY:\nCitibank, N.A.\nCUSTODIAN:\nCitibank, N.A. - Hong Kong.\nDEPOSITED SECURITIES:\nFully paid Class A ordinary shares of the Company(the \"Shares\").\nDEPOSIT AGREEMENT:\nDeposit Agreement, dated as of July 11, 2022, by and among the Company, the Depositary, and the Holders and Beneficial Owners of ADSs issued thereunder (the \"Existing Deposit Agreement\"), and as amended by that certain Amendment No. 1 to the Deposit Agreement (\"Amendment No. 1 to the Deposit Agreement\", and as so amended, the \"Deposit Agreement\").\nEXISTING ADS CUSIP NO.:\n63011A102.*\nEXISTING ADS SYMBOL:\nNA US.*\nCURRENT ADS-TO-SHARE RATIO:\nEach one (1) ADS represents two (2) Shares.\nBOOKS CLOSURE PERIOD:\nBeginning January 19, 2024 (5:00 PM New Yorktime) not to be reopened.\nTERMINATION DATE:\nFebruary 1, 2024.\n \n*\nTrading symbols and CUSIP Nos. are provided as a convenience only and without any liability for accuracy.\nAmendment\nNotice is hereby given that, pursuant to Section 6.1 of the Existing Deposit Agreement, the Company and ...