HANGZHOU, China, April 11,
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 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.
The shares of Ordinary Share are being offered pursuant to a
shelf registration statement on Form F-3 (File No. 333-273968),
which was declared effective by the U.S. Securities and Exchange
Commission (the "SEC") on September 1,
2023. The offering of Ordinary Share will be made only by
means of a prospectus supplement that forms a part of such
registration statement. The warrants to be issued in the concurrent
private placement and the shares issuable upon exercise of such
warrants were offered in a private placement under Section 4(a)(2)
of the Securities Act of 1933, as amended (the "Act"), and
Regulation D promulgated thereunder and have not been registered
under the Act or applicable state securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. A
prospectus supplement relating to the sales of Ordinary Share will
be filed by the Company with the SEC. When available, copies of the
prospectus supplement relating to the registered direct offering,
together with the accompanying prospectus, can be obtained at the
SEC's website at www.sec.gov or from Maxim Group LLC, 300 Park
Avenue, New York, NY 10022,
Attention: Syndicate Department, or via email at
syndicate@maximgrp.com or telephone at (212) 895-3500.
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.
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. Risks and uncertainties that may cause such differences
include, among other things: satisfaction of customary closing
conditions related to the offering and the sale of the securities
and Nano Lab's ability to complete
the offering. 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 and media inquiries, please contact:
Nano
Labs Ltd
Email: 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