Nano Labs Ltd (NA) Prices 1.77M ADS IPO at $11.50/ADS

Nano Labs Ltd (NASDAQ: NA) today announced the pricing of its initial public offering of 1,770,000 American Depositary Shares (“ADS”) at a price to public of US$11.50 per ADS for the total offering size of approximately US$20.3 million, assuming the underwriters do not exercise their over-allotment option to purchase additional ADSs. Each ADS represents two Class A ordinary shares of the Company. The ADSs will begin trading on July 12, 2022, U.S. Eastern time, on the Nasdaq Global Market under the symbol “NA.” The offering is expected to close on July 14, 2022, subject to customary closing conditions.

The Company has granted the underwriters the right to purchase up to 265,500 additional ADSs within 30 days from the date of the final prospectus at the initial public offering price.

AMTD Global Markets Limited, Maxim Group LLC and Tiger Brokers (NZ) Limited are acting as joint bookrunners of this offering.

A registration statement on Form F-1 related to the offering has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the “SEC”). This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is being made only by means of a prospectus forming a part of the effective registration statement. When available, copies of the prospectus related to the offering may be obtained by contacting: AMTD Global Markets Limited, Attention: Equity Capital Markets, 23/F - 25/F Nexxus Building, 41 Connaught Road Central, Hong Kong, by telephone at +852-3163-3288, or by email at [email protected]; Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, by telephone at +1-212-895-3500, or by email at [email protected]; and Tiger Brokers (NZ) Limited, Level 27, 151 Queen Street, Auckland Central, Auckland 1010, New Zealand, by telephone at +64-93-938-128, or by email: [email protected].

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