The Nano Labs Board of Directors has approved a share buyback program of up to $25 million.

BlockBeats News, October 15th, according to globenewswire, Web 3.0 infrastructure and product solutions provider Nano Labs Ltd (Nasdaq stock code: NA) announced that its board of directors has approved a share repurchase plan. Under the plan, the company may repurchase shares worth up to $25 million based on market conditions in the next 12 months. Under the share repurchase plan, the company may regularly repurchase its common stock through open market transactions, private negotiated transactions, block trades, or any combination thereof, but must comply with applicable securities laws and the company’s insider trading policy.