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Nano Labs Ltd (NA) announced it has entered into a strategic equity investment agreement with CEA Industries Inc. (VAPE) as part of its cryptocurrency reserve strategy.
Under the agreement, Nano Labs subscribed for 495,050 shares of CEA Industries’ Class A common stock at $10.10 per share. The investment includes 495,050 warrants with an exercise price of $15.15 per share, potentially allowing Nano Labs to hold up to 990,100 shares if fully exercised.
The investment forms part of CEA Industries’ $500 million Private Investment in Public Equity financing plan. Proceeds will primarily fund BNB acquisitions, with remaining funds allocated to working capital, transaction fees, and general corporate purposes.
CEA Industries, previously focused on the Canadian nicotine vape industry, intends to adopt a BNB Treasury strategy following the PIPE closing. The company aims to provide institutional and retail investors access to the BNB Chain ecosystem.
Nano Labs currently holds approximately 128,000 BNB tokens. The company describes this investment as part of its ongoing initiative to build cryptocurrency reserves and enhance its position across major blockchain ecosystems.
The transaction closing remains subject to customary conditions, with no guarantee of completion. Nano Labs operates as a Web 3.0 infrastructure provider in China, developing high throughput and high performance computing chips while maintaining digital asset reserves primarily in BNB and Bitcoin.