Key Highlights of the Transaction
- PIPE Securities Construction: Pursuant to the Settlement, the Firm has agreed to difficulty and promote an combination of 442,000,000 items (every, a “PIPE Unit”) to the Buyers. Every PIPE Unit consists of:
- One class A odd share, par worth $0.0001 per share of the Firm (a “Class A Abnormal Share”); and
- One warrant to buy one Class A Abnormal Share at an train worth equal to $0.35 per share, exercisable for a interval of two years from the deadline.
- Buy Value & Bitcoin Consideration: The acquisition worth per PIPE Unit is $0.35 and the combination buy worth of $154,700,000 will probably be totally paid by way of the contribution of an combination of two,380 Bitcoins, valued at a $65,000 per Bitcoin decided on the subject of the prevailing market costs of Bitcoin on July 30, 2026.
- Closing Situations: The closing of the issuance and sale of the PIPE Models is scheduled to happen inside 12 enterprise days following the execution of the Settlement, topic to customary closing situations, together with conversion of Class B Abnormal Shares into Class A Abnormal Shares, acquiring required regulatory and trade approvals, Nasdaq compliance, and the provision of adequate licensed share capital.
- Board & Governance Reorganization: Efficient upon the closing, the dimensions of the Firm’s Board of Administrators will probably be set at 5 (5) members. 4 incumbent administrators and the present Chief Government Officer and Chief Monetary Officer will resign. The Buyers will designate 4 (4) new director nominees, in addition to the brand new Chief Government Officer and Chief Monetary Officer, whereas Mr. Botao Ma, the Firm’s present Chairman and Chief Government Officer, will stay as a director on the Board of Administrators.
Collaborating Buyers
The non-public placement consists of collaborating institutional and particular person buyers, together with METAVERSE INTELLIGENCE TECH LTD, DYT INFO PTE. LTD., YY TECH INC, Kellyview Funding Restricted, JOYER INVESTMENT LIMITED, Dundas Expertise Restricted, DADA Enterprise Buying and selling Co., Restricted, VMADE CO., LIMITED, Easygo Enterprise Co., Ltd, and BCI TECH PTE. LTD.
Use of Proceeds
The Firm intends to make use of the proceeds from this transaction in a number of methods, together with however not restricted to: supporting normal expenditure and enterprise growth, funding into analysis and growth, together with AI implementations complementary to our InsurTech enterprise mannequin, and furthering the Firm’s Digital Asset Reserve technique specializing in utilizing Bitcoin as a treasury asset.
About Zhibao Expertise Inc.
Zhibao Expertise Inc. is a number one and excessive development InsurTech firm primarily partaking in offering digital insurance coverage brokerage companies by way of its working entities (“Zhibao China Group”) in China. 2B2C (“to-business-to-customer”) digital embedded insurance coverage is the Firm’s modern enterprise mannequin, which Zhibao China Group pioneered in China. Zhibao China Group launched the primary digital insurance coverage brokerage platform in China in 2020, which is powered by their proprietary PaaS (“Platform as a Service”).
Zhibao has developed over 40 proprietary and modern digital insurance coverage options addressing totally different eventualities in a variety of industries, together with however not restricted to journey, sports activities, logistics, utilities, and e-commerce. Zhibao acquires and analyzes buyer information, makes use of massive information and AI expertise to repeatedly iterate and improve its digital insurance coverage options. This iterative course of, along with frequently bettering its digital insurance coverage options, will maintain it abreast of the brand new developments and buyer preferences out there. For extra info, please go to: ir.zhibao-tech.com.
Ahead-Trying Statements
Statements on this press launch about future expectations, plans and prospects, in addition to every other statements concerning issues that aren’t historic info, could represent “forward-looking statements” inside the that means of The Personal Securities Litigation Reform Act of 1995. The phrases “anticipate,” “imagine,” “proceed,” “may,” “estimate,” “count on,” “intend,” “could,” “plan,” “is/are more likely to,” “potential,” “predict,” “undertaking,” “ought to,” “goal,” “will,” “would” and related expressions are supposed to establish forward-looking statements, though not all forward-looking statements comprise these figuring out phrases. The Firm undertakes no obligation to replace or revise publicly any forward-looking statements to mirror subsequent occurring occasions or circumstances, or modifications in its expectations that come up after the date hereof, besides as could also be required by regulation. These statements are topic to uncertainties and dangers together with, however not restricted to, the uncertainties associated to market situations, and different elements mentioned within the “Danger Elements” part of our annual experiences on Kind 20-F (as amended) and registration statements on Kind F-1 (as amended) which were filed or will probably be filed once in a while with the SEC. Though the Firm believes that the expectations expressed in these forward-looking statements are cheap, it can not guarantee you that such expectations will develop into right, and the Firm cautions buyers that precise outcomes could differ materially from the anticipated outcomes and encourages buyers to assessment different elements that will have an effect on its future leads to the Firm’s registration statements and different filings with the SEC. Further elements are mentioned within the Firm’s filings with the SEC, which can be found for assessment at www.sec.gov.
Investor Relations Contact
Zhibao Expertise Inc.
Investor Relations
Workplace E mail: ir@zhibao-tech.com
Skyline Company Communications Group, LLC
Scott Powell, President
Avenues Tower
1177 Avenue of the Americas, fifth flooring
New York, NY 10036
Workplace: (646) 893-5835
E mail: data@skylineccg.com
The issuer is solely chargeable for the content material of this announcement.
