Johann Wilfred
- Nano Labs announced a new $500 million convertible notes agreement
- The funds raised will be used for its BNB treasury strategy
- Shares of Nano Labs were up by 179.71% in pre-market trading hours, priced at $30.46
Web3 infrastructure firm Nano Labs has announced a new $500 million convertible notes agreement on June 24, 2025. The funds raised will be used for its BNB treasury strategy, as per a press release. Under the agreement, Nano Labs will issue several promissory notes, of which many investors have already agreed to buy.
Binance co-founder Changpeng Zhao posted about the announcement on X.
The notes have a maturity timeline of 360 days following the issuance. No interest will accrue on the principal amount. In the 360 days from the date of issuance, holders of these promissory notes will be able to convert them into Class A ordinary shares of Nano Labs at a conversion rate of $20 per share.
Nano Labs has plans to initially purchase $1 billion worth of BNB with a long term goal of holding 5% to 10% of BNB’s total supply.
Nano Labs joins growing list of companies with crypto treasury strategy
This call for financing is just one of many rolling out convertible agreements of preferred stock offerings for the purpose of accumulating cryptocurrency. Firms like Metaplanet, Strategy, DayDayCook, The Blockchain Group, and Tesla all either regularly purchase Bitcoin or have a Bitcoin treasury strategy in place.
Source: Yahoo Finance
After the announcement, Shares of Nano Labs were up by 179.71% in pre-market trading hours, priced at $30.46.
