Nano Labs (NA), a designer who lies in Nasdaq of high performance computer chips, has reached a private agreement to sell $ 500 million in convertible notes that mature in 360 days to buy BNB of Binance
Token for your balance.
The unusual notes will not carry coupon and can be exchanged at any time for class A shares in negotiation of the company’s Nasdaq at an initial price of $ 20. If investors keep up, the Nano Laboratories must pay the director as a whole.
The firm said in a press release that the increase is the first step in a treasure program built around the Binance BNB.
The company intends to buy up to $ 1 billion in BNB through sales of notes and other private locations, with a long -term objective of having 5% –10% of the circulating offer of Token. BNB total market capitalization is currently $ 90.3 billion.
Nano Labs will evaluate the safety and value of BNB before making the movement. The firm pointed out that the agreement is not yet closed.
Nano Labs’s shares increased more than 100% since the announcement was made to operate now to $ 22.
His press release occurs shortly after a group of former coverage fund executives revealed plans to raise $ 100 million to buy BNB through a Shell company that is quoted in Nasdaq.
