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Nano Labs Announces Receipt of US$4.9 Million Equivalent in Bitcoin and USDT from Unregistered Sale of Equity Securities
HONG KONG, Feb. 28, 2025 /PRNewswire/ -- Nano Labs Ltd (Nasdaq: NA) ("we," the "Company" or "Nano Labs"), a leading fabless integrated circuit design company
About this update from Nano Labs Ltd
[{"type":"text","content":"HONG KONG, Feb. 28, 2025 /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, today announced that it has received US$4.9 million equivalent in Bitcoin and USDT from previously announced private placement of 913,714 Class A ordinary shares at a purchase price of US$6.46 per share, for aggregate gross proceeds of approximately US$5.9 million. As previously disclosed, the aggregate purchase price shall be satisfied in Bitcoin and USDT. The Company has issued 758,915 Class A ordinary shares to the investors of this private placement. The shares were offered in a transaction not required to be registered under Section 5 of the Securities Act.\n\n \n \n \n \n \n \n\n \nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Nano Labs Ltd\nNano Labs Ltd is a leading fabless integrated circuit (\"IC\") design company and product solution provider in China. Nano Labs is committed to the development of high throughput computing (\"HTC\") chips, high performance computing (\"HPC\") chips, distributed computing and storage solutions, smart network interface cards (\"NICs\") vision computing chips and distributed rendering. Nano Labs has built a comprehensive flow processing unit (\"FPU\") architecture which offers solution that integrates the features of both HTC and HPC. Nano Lab's Cuckoo series are one of the first near-memory HTC chips available in the market*. For more information, please visit the Company's website at: ir.nano.cn.\n*\nAccording to an industry report prepared by Frost & Sullivan.\nForward-Looking Statements\nThis press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company's plan to appeal the Staff's determination, which can be identified by terminology s...