SCHEDULE: CVI Investments, Heights Capital Report 8.1% Stake in Nano Labs
Beneficial Ownership Report (Schedule 13G)
CVI Investments, Inc. and Heights Capital Management, Inc. have disclosed a combined 8.1% beneficial ownership stake in Nano Labs Ltd, totaling 1,811,033 Class A Ordinary Shares.
Summary
- CVI Investments, Inc. and Heights Capital Management, Inc. (Reporting Persons) collectively beneficially own 1,811,033 Class A Ordinary Shares of Nano Labs Ltd.
- This ownership represents 8.1% of the Class A Ordinary Shares outstanding.
- The reported beneficial ownership comprises 111,033 existing shares and additional shares issuable upon the exercise of warrants.
- The warrants are subject to a limitation preventing their exercise if the total beneficial ownership by a Reporting Person and its affiliates would exceed 9.99%.
- Heights Capital Management, Inc. serves as the investment manager to CVI Investments, Inc., and as such, exercises shared voting and dispositive power over the reported shares.
- The event requiring this Schedule 13G filing occurred on September 30, 2025.
- Nano Labs Ltd had 20,712,924 Class A Ordinary Shares outstanding as of September 24, 2025, according to its Prospectus filed on that date.
Sentiment
Score: 5
Explanation: The filing is a factual disclosure of beneficial ownership, which is neutral in sentiment. It reports an existing stake rather than new developments that would typically carry positive or negative implications for company performance.
Future Outlook
NA
Industry Context
This filing indicates a significant passive investment by institutional entities in Nano Labs Ltd, a common practice for investment managers seeking exposure to specific companies or sectors. The 8.1% stake suggests a notable position within the company's shareholder base, reflecting an institutional vote of confidence or strategic portfolio allocation.
Stakeholder Impact
- Shareholders: Provides transparency regarding significant institutional ownership, which can influence market perception and liquidity.
Key Dates
| Date | Description |
|---|---|
| 2025-09-24 | Date Nano Labs Ltd's Prospectus (Registration No. 333-288573) was filed, indicating 20,712,924 Class A Ordinary Shares outstanding. |
| 2025-09-30 | Date of event which required the filing of this statement. |
| 2025-11-06 | Date the Schedule 13G Amendment No. 1 was signed by CVI Investments, Inc. and Heights Capital Management, Inc. |
Keywords
Nano Labs Ltd, CVI Investments, Heights Capital Management, Schedule 13G, Beneficial Ownership, Class A Ordinary Shares, Warrants, Institutional Investor, SEC Filing
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