Nano Labs Ltd Announces IPO Pricing

HANGZHOU, China, July 12 28, 2022 (GLOBE NEWSWIRE) — Nano Labs Ltd (the “Company” or “Nano Labs”), a leading fabless integrated circuit (“IC”) design company and product solution provider in China, announced today the price of its initial public offering of 1,770,000 American Depositary Shares (“ADS”) at a public price of $11.50 per ADS for a total offering amount of approximately $20.3 million, assuming that the underwriters do not exercise their over-allotment option to purchase additional ADSs. Each ADS represents two Class A common 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 an additional 265,500 ADS within 30 days of the date of the final prospectus at the IPO price.

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

A registration statement on Form F-1 relating to the Offer has been filed with and declared effective by the United States 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, and there will be no sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be illegal. prior to registration or qualification under the securities laws of such state or territory.

The offering is being made only by means of a prospectus forming part of the effective registration statement. When available, copies of the offer prospectus 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 phone at +852-3163-3288, or by email at project.metaverse@amtdinc.com; Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, by phone at +1-212-895-3500, or by email at syndicate@maximgrp.com; and Tiger Brokers (NZ) Limited, Level 27, 151 Queen Street, Auckland Central, Auckland 1010, New Zealand, by phone at +64-93-938-128 or by email: info_nz@tigerfintech.com.

About Nano Labs Ltd

Nano Labs Ltd is a leading fabless integrated circuit (“IC”) design company and product solution provider in China. Nano Labs is engaged in the development of High Speed ​​Computing (“HTC”) Chips, High Performance Computing (“HPC”) Chips, Distributed Computing and Storage Solutions, Vision Computing Chips for intelligent network interface cards (“NICs”) and distributed rendering. Nano Labs has built a complete Stream Processing Unit (“FPU”) architecture that provides a solution that integrates HTC and HPC functionality. NanoLab Hello are one of the first near-memory HTC chips available on the market with a maximum bandwidth of approximately 2.27 Tbps, as well as one of the first engines in the Grin mining market based on ASIC*. For more information, please visit the company’s website at: ir.nano.cn.

*Based on an industry report prepared by Frost & Sullivan.

For investor and media inquiries, please contact:

Nano Laboratories Ltd.

Email: ir@nano.cn

Ascent Investor Relations LLC

Ms. Tina Xiao

Tel: (917) 609-0333

Email: tina.xiao@ascent-ir.com

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