$155 Million PIPE Agreement: Zhibao Technology Investors Pay with 2,380 Bitcoins and Gain Board Control

Odaily News – Nasdaq-listed Zhibao Technology signed a PIPE agreement valued at approximately $155 million on July 31, under which investors will pay with 2,380 Bitcoins at a fixed price of $65,000 per coin and obtain control of the board of directors. Each of the 10 investor entities listed in the agreement will be allocated 44.2 million units, totaling $15.47 million in value, paid with 238 Bitcoins. Investors purchased 442 million units at $0.35 per unit, with each unit comprising one Class A common share and a 2-year warrant to purchase an additional share at an exercise price of $0.35, bringing the potential total issuance to 884 million shares.