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Nano Labs Announces Receipt of US$4.9 Million Equivalent in Bitcoin and USDT from Unregistered Sale of Equity Securities

1. Nano Labs raised $5.9 million via a private placement of shares. 2. The purchase price was settled in Bitcoin and USDT totaling $4.9 million. 3. The company issued 758,915 Class A ordinary shares. 4. Nano Labs focuses on integrated circuit design and high computing solutions. 5. Shares were offered without registration under Section 5 of the Securities Act.

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Why Bullish?

The successful fundraising indicates strong investor confidence. Previous private placements often led to higher stock prices as seen in similar tech firms.

How important is it?

The financing through innovative means like crypto signifies strategic planning for growth and operational funds.

Why Short Term?

Immediate benefits from the raised capital can influence stock performance soon. However, long-term impact depends on financial results and market conditions.

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, /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 received US$4.9 million equivalent in Bitcoin and 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 758,915 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. 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 press release 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[email protected] Ascent Investor Relations LLCTina XiaoPhone: +1-646-932-7242Email: [email protected] SOURCE Nano Labs Ltd WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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