Nano Labs to Buy $1B in BNB for Treasury, Starting with $500M

Key Points:

• Nano Labs targets $1 billion in BNB, aiming to hold 5–10% of total supply.
• $500 million convertible note deal offers investors option to convert at $20 per share.
• Binance-linked BNB products may hit Nasdaq soon, backed by former hedge fund executives.

Nano Labs Ltd (Nasdaq: NA), a China-based Web 3.0 infrastructure provider, has entered a convertible notes purchase agreement totaling $500 million. The company will issue unsecured promissory notes with no interest, maturing in 360 days. According to a press release, investors can convert the notes into Nano Labs’ Class A ordinary shares at $20 per share, subject to adjustment.

Meanwhile, if the notes are not converted, the full principal amount must be repaid at maturity. The deal is subject to customary closing conditions, and the company has cautioned that completion is not guaranteed.

Nano Labs Begins Strategic BNB Treasury Allocation

Nano Labs plans to use the $500 million raised to begin acquiring Binance Coin (BNB). The company aims to scale its holdings to $1 billion over time. This strategy is designed to accumulate between 5% to 10% of BNB’s total circulating supply.

The company stated it will assess BNB’s security, performance, and value before expanding its holdings. This move reflects a broader effort by Nano Labs to manage its treasury through exposure to digital assets aligned with its Web 3.0 business model.

Convertible Notes to Support BNB Acquisition Plan

The issued notes are convertible within 360 days, giving investors the flexibility to convert into equity. The $20 conversion rate offers fixed terms, although it is subject to adjustments based on market conditions. The company confirmed the notes will not bear interest and are not secured by any specific asset.

Nano Labs emphasized the strategic nature of this financing round and has advised investors not to rely solely on the announcement for decision-making, due to the uncertainty surrounding deal completion.

In related developments, Binance founder Changpeng Zhao (CZ) revealed that former hedge fund professionals are working on BNB-related products planned for launch on the Nasdaq. Zhao noted that while these efforts are not affiliated with Binance directly, they are being actively supported by the community.