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Although polycyclic aromatic hydrocarbons (PAHs) with a nitrogen-boron-nitrogen (NBN) moiety have recently attracted tremendous interest due to their intriguing electronic and optoelectronic properties, all of the NBN-fused π-systems reported to date are called NBN-dibenzophenalenes and were synthesized by electrophilic aromatic substitution. The synthesis of NBN-phenalenes remains challenging, and transition-metal catalysis has never been utilized to construct NBN-embedded π-scaffolds. Herein, a palladium-catalyzed cyclization/bicyclizatio