Nano Labs Ltd has announced a $500 million convertible note private placement to support its strategic BNB reserve initiative. The company plans to issue convertible promissory notes to multiple investors, marking a significant step in its growth strategy. As part of this initiative, Nano Labs aims to purchase $1 billion worth of BNB through convertible bonds and private placements, with a long-term goal of holding 5% to 10% of BNB's total circulation.