BNB features prominently in Nano Labs Ltd’s new capital strategy with the announcement of a $500 million convertible notes offering. A Nasdaq-filed company is looking to purchase BNB as part of its digital asset reserves and treasury long-term strategy.
Convertible notes will remain open to investors who get to convert them to Nano Labs Class A ordinary shares with a predetermined $20 per share price. The notes do not accrue interest and shall fall due and payable 360 days from the issue date, with non-cash financing not adding to debt pressure.
Nano Labs shall perform a comprehensive BNB security, value, and market analysis before pursuing an additional purchase. Nano Labs has outlined a goal to acquire up to $1 billion in BNB, gradually building a holding of 5% to 10% of its total circulating supply.
The purchase will be executed through a mix of convertible note conversions and private placements. This move aligns with the firm’s vision of using major digital assets as core treasury components. The closing of the agreement depends on standard contractual conditions and does not guarantee full execution.
BNB investment fuels Nano Labs expansion
If investors choose not to convert, the company will repay the principal amount upon the maturity date. Nano Labs is still focused on developing out Web 3.0 infrastructure services while locking up long-term stores of digital assets.
This is a follow-up to its previous decision to employ Bitcoin as a cornerstone reserve asset within the corporate treasury. Nano Labs, based in China, develops high-throughput and high-performance computing chips using its architectural technology, Flow Processing Unit (FPU).
Its FPGA replacements for the traditional GPUs are the Cuckoo family of chips, and the company is therefore an industry leader in next-generation solutions for computing.
Nonetheless, Nano Labs is building a diversified, blockchain-aligned business structure through its strategic investment in BNB. Its advanced chip design capabilities further strengthen its position in next-generation computing solutions.
