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HONG KONG - Nano Labs Ltd (NASDAQ:NA), a Web 3.0 infrastructure provider with a market capitalization of $93.84 million, announced Thursday it has entered into an At The Market Offering Agreement with Maxim Group LLC to sell Class A Ordinary Shares with an aggregate offering price of up to $45 million. The announcement comes as the stock trades at $4.50, having experienced significant volatility with a 31.61% decline over the past six months despite a 54.53% gain over the last year, according to InvestingPro data.
The company plans to use the net proceeds primarily for its BNB and crypto asset reserve strategy, research and development of new products, and general corporate purposes, according to a press release statement. This capital raise comes as InvestingPro analysis shows the company facing profitability challenges, with negative EBITDA of $7.77 million and revenue declining by 52.49% in the last twelve months.
Sales of the Class A Ordinary Shares will be made through methods permitted by law deemed to be an at-the-market offering as defined in Rule 415(a)(4) of the Securities Act, including sales on the Nasdaq Capital Market.
The offering will be conducted through a prospectus supplement filed with the U.S. Securities and Exchange Commission on August 21, 2025, which forms part of the company’s shelf registration statement on Form F-3 that was declared effective on September 1, 2023.
Nano Labs describes itself as a provider of high throughput computing chips and high-performance computing chips, with an integrated flow processing unit architecture. The company has positioned itself in the crypto assets space by adopting BNB as its primary reserve asset, while also holding reserves in cryptocurrencies including BTC.
The company noted that the offering does not constitute an offer to sell or solicitation of an offer to buy the shares in any state where such offer, solicitation, or sale would be unlawful prior to registration or qualification under securities laws. For investors considering this volatile stock, InvestingPro offers comprehensive analysis with additional ProTips and detailed valuation metrics, available in the Pro Research Report covering this and 1,400+ other US equities.
In other recent news, Nano Labs Ltd, a Web 3.0 infrastructure provider based in China, has made significant strides in its financial strategies. The company announced a strategic equity investment in CEA Industries Inc., acquiring 495,050 shares of Class A common stock at $10.10 per share. This investment also includes warrants that could potentially increase Nano Labs’ holdings to 990,100 shares if exercised. Additionally, Nano Labs has expanded its cryptocurrency portfolio by increasing its BNB holdings to a total of 128,000 tokens, valued at over $108 million. This move follows a recent acquisition of 8,000 BNB tokens at an average price of $801 per token.
In another development, Nano Labs appointed finance veteran Can Yang as senior vice president of its subsidiary, Nano bit HK Limited, to lead its digital currency strategic reserves initiatives. Meanwhile, AMI Pharm has announced that its injectable drug candidate, AYP-101, has entered Phase 3 clinical trials for treating submental fat, commonly known as "double chin." This trial involves 252 participants and is expected to conclude by the end of 2025. These developments reflect the companies’ ongoing efforts to expand and enhance their market positions.
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