Nano Labs announced that it entered into agreements with Jianping Kong, its chairman and chief executive officer, and Qifeng Sun, its vice chairman, along with their respective affiliates on September 20, 2023, to convert the interest-free loans from the Lenders in an aggregated amount of US$8.5 million into certain amount of Class A ordinary shares in lieu of repayment of the Loans. The Conversion has been closed on September 23, 2024.
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