Nano Labs shares slide on pricing ~$5.0M offering of ADS offering

Sep. 28, 2022 4:48 AM ETNano Labs Ltd (NA)By: Meghavi Singh, SA News Editor
  • Nano Labs (NASDAQ:NA) shares slumps 21.7% after-hours after the firm notifies that the previously announced registered public offering of American depositary shares was priced at $2.40/ADS for expected gross proceeds to be $5.0M.
  • The company will issue and sell 2,083,334 ADSs, each representing two Class A ordinary shares of the company.
  • Underwriters are granted a 30-day option to purchase up to an aggregate of 312,500 additional ADSs.

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