HANGZHOU, China, Dec. 20,
2023 /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 an extraordinary
general meeting of the Company (the "Meeting") will be held at
10 A.M. on January 25, 2024, Beijing time (9
P.M. on January 24, 2024, U.S.
Eastern time) at 30th Floor, Dikaiyinzuo, No. 29, East Jiefang
Road, Hangzhou, Zhejiang, People's
Republic of China. The Company has established the close of
business on December 22, 2023, Eastern
time (the "Record Date"), as the record date for determining
shareholders entitled to notice of, and to vote at, the Meeting and
any adjournments or postponements thereof. The purpose of the
Meeting is:
(1) to effect a share consolidation of two
shares with a par value of US$0.0001
each in the Company's issued and unissued share capital be and are
hereby consolidated into one share with a par value of US$0.0002 (the "Share Consolidation"), so that
the authorized share capital of the Company is US$50,000 divided into 250,000,000 ordinary
shares of par value of US$0.0002
each, comprising (i) 121,410,923 Class A ordinary shares of par
value of US$0.0002 each, (ii)
28,589,077 Class B ordinary shares of par value of US$0.0002 each and (iii) 100,000,000 shares of a
par value of US$0.0002 each of such
class or classes (however designated) as the board of directors of
the Company (the "Directors") may determine in accordance with the
Company's New M&A (as defined below).
(2) to amend the Company's memorandum and
articles of association currently in effect (the
"Current M&A") to reflect the Share Consolidation (after
the amendment, the "New M&A").
Subject to the approval at the Meeting, the Share Consolidation
will be effective at 5 P.M. on
January 31, 2024, U.S. Eastern time,
and the Class A ordinary shares are expected to begin trading on a
post-Share Consolidation basis on the Nasdaq Capital Market when
markets open on the next business trading day under the new
CUSIP/ISIN numbers. No fractional shares will be issued in
connection with the Share Consolidation. All fractional shares will
be rounded up to the whole number of shares. Copies of the notice
of the Meeting and the form of proxy are available on the Company's
corporate investor relations website at https://ir@nano.cn.
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 with a
maximum bandwidth of approximately 2.27 Tbps, as well as one of the
first movers of the ASIC-based Grin mining market *.
For more information, please visit the Company's website at:
https://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
Ms. Tina Xiao
Tel: +1-646-932-7242
Email: investors@ascent-ir.com
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SOURCE Nano Labs Ltd