Zhi Bao Technology completes $154.7 million PIPE financing, with investors paying with 2,380 BTC

Zhibao Technology, a Nasdaq-listed company (Ticker: ZBAO), has completed a $154.7 million PIPE financing, with investors fully paying in 2,380 bitcoins (valued at $65,000 each based on the July 30 benchmark price).

The financing issued 442 million PIPE units at a price of $0.35 per unit, each unit consisting of one share of Class A common stock and a two-year warrant with an exercise price of $0.35 per share. At closing, 395.6 million units were delivered, with the remaining 46.32 million units to be delivered pending shareholder approval, with no additional consideration required.