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Nano Labs Ltd (NASDAQ:NA) ("we," the "Company" or "Nano Labs"), a leading fabless integrated circuit design company and product solution provider in China today announced that it has entered into a securities purchase agreement with certain institutional investors to purchase 4,347,825 Class A ordinary shares of the company (the "Ordinary Shares") in a registered direct offering. In a concurrent private placement, the Company also agreed to issue and sell to the investor warrants to purchase up to 6,521,737 Ordinary Shares. The combined effective offering price for each share of Ordinary Share and accompanying warrant is $1.15. The warrants are immediately exercisable, expire five years from the date of an effective registration statement, and have an exercise price of $1.265 per share. The gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $5.0 million before deducting the placement agent's fees and other estimated offering expenses payable by the Company.
The offering is expected to close on or about April 15, 2024, subject to the satisfaction of customary closing conditions.
Maxim Group LLC is acting as the sole placement agent in connection with the offering.
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