05:43 AM EDT, 06/26/2025 (MT Newswires) -- Nano Labs ( NA ) said late Wednesday it received 600 bitcoins, valued at about $63.6 million, from investors as part of its $500 million convertible notes offering announced a day earlier.

According to a regulatory filing, the company issued two convertible notes in connection with the initial closing. The subscription to the notes may close in multiple tranches.

The offering allows investors to subscribe using cash or equivalent cryptocurrencies. The notes mature in 360 days, are unsecured, and are convertible into Class A shares at an initial price of $20 per share.

Nano Labs ( NA ) now holds 1,000 bitcoins, including the 600 received under the notes offering.

Shares of the China-based Web3 infrastructure firm soared over 12% in premarket activity Thursday.

Price: 12.73, Change: +1.38, Percent Change: +12.16