Why Nano Labs Shares Are Nosediving During Wednesday's Session

Nano Labs Ltd NA shares are trading lower by 30.19% to $2.22 during Wednesday's trading session after the company priced a roughly 2.08 million ADS public offering at $2.40 per ADS.

What Else?

Nano Labs says the company has also granted the underwriters a 30-day option to purchase up to an aggregate of 312,500 additional ADSs.

The gross proceeds to the company will be $5.0 million, assuming the option to purchase additional ADSs is not exercised.

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According to data from Benzinga Pro, Nano Labs has a 52-week high of $13.95 and a 52-week low of $2.16.