NanoLabs, Listed in the U.S., Issues $500 Million Convertible Bonds to Reserve Binance Coin
Son Min
Summary
- NanoLabs announced plans to issue $500 million in convertible bonds to reserve Binance Coin (BNB).
- Including this convertible bond, NanoLabs plans to acquire up to $1 billion worth of BNB and aims to hold 5%~10% of BNB's circulating supply.
- As of 9:10 PM on the 24th, the price of BNB is trading at $639, up 3.64% from 24 hours ago.
NanoLabs, listed on NASDAQ, is planning to issue $500 million in convertible bonds to reserve Binance Coin (BNB).
According to GlobeNewswire on the 24th (local time), NanoLabs announced in a press release, "As part of our Binance Coin reserve strategy, we will issue $500 million in convertible bonds," adding, "This will be a very important turning point for the growth of NanoLabs."
They further explained, "We plan to acquire $1 billion worth of BNB in the future through convertible bonds and private placements, with the long-term goal of holding 5%~10% of BNB's circulating supply."
As of 9:10 PM, BNB is trading at $639 on the Binance USDT Market, up 3.64% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
