Nano Labs is issuing $500 million in private convertible notes to form a $1 billion BNB reserve, aiming for up to 10% of BNB’s supply. This substantial initiative signals a new milestone in institutional involvement with public blockchain assets. Nano Labs Sets Ambitious BNB Acquisition Target Nano Labs has signed a $500 million convertible notes subscription agreement, according to an official announcement. The notes mature in 360 days, earn no interest before maturity, and are convertible to Class A common stock at $20 per share
source: https://beincrypto.com/nano-labs-bnb-reserve-convertible-notes/