Nano Labs Announces Pricing Of $5M Registered Direct Offering; Offering Price For Each Share Of Ordinary Share And Accompanying Warrant Is $1.15
Portfolio Pulse from Benzinga Newsdesk
Nano Labs Ltd (NASDAQ:NA), a fabless integrated circuit design company based in China, announced a $5M registered direct offering at $1.15 per share, including warrants. The offering involves 4,347,825 Class A ordinary shares and warrants for up to 6,521,737 shares, exercisable at $1.265. The proceeds, before fees and expenses, are aimed for company growth. Maxim Group LLC is the placement agent. The offering's closure is anticipated around April 15, 2024, pending customary conditions.
April 11, 2024 | 3:31 pm
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Nano Labs Ltd announces a $5M registered direct offering at $1.15 per share, including warrants, with Maxim Group LLC as the placement agent. The offering aims to support company growth.
The direct offering by Nano Labs could have a neutral to slightly negative short-term impact on its stock price due to the dilution of existing shares. However, the infusion of capital is aimed at supporting the company's growth, which could offset the dilutive effect in the longer term. The pricing of the offering at $1.15, along with the details of the warrants, suggests a strategic approach to raising funds without significantly impacting current shareholders. The involvement of Maxim Group LLC as the placement agent adds credibility to the offering.
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