DealsJul 31, 2026, 08:54 AM
Zhibao Technology Secures $154.7M PIPE Financing Paid in Bitcoin
AI Summary
Zhibao Technology Inc. has entered into a definitive Securities Purchase Agreement for a Private Investment in Public Equity (PIPE) financing. The company will issue 442,000,000 units, each comprising one Class A Ordinary Share and one warrant, for an aggregate purchase price of $154,700,000. Notably, the payment will be made in 2,380 Bitcoin. The transaction also includes a significant board and management reorganization, with investors designating new leadership and directors, while the current Chairman and CEO, Mr. Botao Ma, will remain a director.
Key Highlights
- Company to issue and sell 442,000,000 PIPE Units to non-U.S. investors.
- Each PIPE Unit consists of one Class A Ordinary Share and one warrant.
- Purchase price is $0.35 per PIPE Unit, totaling an aggregate of $154,700,000.
- Payment will be made via 2,380 Bitcoin, valued at $65,000 per Bitcoin.
- Board of Directors will be set at five members upon closing.
- Four incumbent directors, the current CEO, and CFO will resign.
- Investors will designate four new directors, a new CEO, and a new CFO.
- Proceeds will fund general expenditure, business development, AI R&D, and a Digital Asset Reserve strategy.
Price Impact
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