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

• 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.