Nano Labs Ltd (NA) Receives $1M Equivalent in USDT

Nano Labs Ltd (Nasdaq: NA) today announced that it has received US$1 million equivalent in USDT from previously announced private placement of 913,714 Class A ordinary shares at a purchase price of US$6.46 per share, for aggregate gross proceeds of approximately US$5.9 million. As previously disclosed, the aggregate purchase price shall be satisfied in Bitcoin and USDT. The Company has issued additional 154,799 Class A ordinary shares to the investors of this private placement. The shares were offered in a transaction not required to be registered under Section 5 of the Securities Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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