HANGZHOU, China, Sept. 23,
2024 /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, announced today that it entered into
agreements with Mr. Jianping Kong,
its chairman and chief executive officer, and Mr. Qifeng Sun, its vice chairman, along with their
respective affiliates (the "Lenders") on September 20, 2023, to convert the interest-free
loans from the Lenders in an aggregated amount of US$8.5 million (the "Loans") into certain amount
of Class A ordinary shares (the "Conversion") in lieu of repayment
of the Loans. The Conversion has been closed on September 23, 2024.
On August 26 and September 6, 2024, the Company entered into
agreements with the Lenders for the Loans. According to the
subscription agreement entered into among the Company and the
Lenders, a total of 27,914,614 Class A ordinary shares of the
Company will be issued to the Lenders at a per share price of
US$0.3045, being the average closing
price over the previous 10 trading days as of September 19, 2024. Upon the closing of the
Conversion, the Company has been released from any future
liabilities or obligations under the terms of the Loans.
About Nano Labs Ltd
Nano 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.
*According to an industry report prepared by Frost &
Sullivan.
Forward-Looking Statements
This report 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 such as
"may," "will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. Such statements are based upon
management's current expectations and current market and operating
conditions, and relate to events that involve known or unknown
risks, uncertainties and other factors, all of which are difficult
to predict and many of which are beyond the Company's control,
which may cause the Company's actual results, performance or
achievements to differ materially from those in the forward-looking
statements. Further information regarding these and other risks,
uncertainties or factors is included in the Company's filings with
the Securities and Exchange Commission. The Company does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events or otherwise, except as
required under law.
For investor inquiries, please contact:
Nano Labs Ltd
ir@nano.cn
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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SOURCE Nano Labs Ltd