Zhibao Technology Inc. (NASDAQ: ZBAO), a leading InsurTech company in China, has announced a groundbreaking $154.7 million private investment in public equity (PIPE) financing that will be paid entirely in Bitcoin. This move underscores the growing trend of companies adopting Bitcoin as a treasury asset.
Key Highlights of the Transaction
- PIPE Securities Structure: The company will issue 442 million units, each consisting of one Class A ordinary share and a warrant to purchase an additional share at $0.35, exercisable for two years.
- Bitcoin Consideration: The purchase price of $0.35 per unit totals $154.7 million, to be paid with 2,380 Bitcoins, valued at $65,000 per Bitcoin based on market prices as of July 30, 2026.
- Closing Conditions: The deal is expected to close within 12 business days, subject to regulatory approvals, Nasdaq compliance, and other customary conditions.
- Board & Governance Reorganization: Upon closing, the board will be reduced to five members, with four new directors designated by investors, and a new CEO and CFO appointed. Current Chairman and CEO Botao Ma will remain on the board.
Participating Investors
The private placement includes a diverse group of institutional and individual investors, such as METAVERSE INTELLIGENCE TECH LTD, DYT INFO PTE. LTD., YY TECH INC, and others.
Use of Proceeds
Proceeds will be used for:
- General expenditure and business development
- Research and development, including AI implementations for its InsurTech model
- Furthering the company's Digital Asset Reserve strategy, focusing on Bitcoin as a treasury asset
About Zhibao Technology
Zhibao Technology is a pioneer in 2B2C digital embedded insurance in China. It launched the first digital insurance brokerage platform in 2020, powered by its proprietary PaaS. The company has developed over 40 proprietary digital insurance solutions across industries like travel, sports, logistics, and e-commerce, leveraging big data and AI.
Forward-Looking Statements
This press release contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially from expectations. The company undertakes no obligation to update these statements.
For more information, visit ir.zhibao-tech.com.
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