Zhibao adds 2,380 Bitcoin in treasury deal
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- Zhibao Technology closed a $154.7 million private placement funded with 2,380 Bitcoin.
- Investors contributed Bitcoin directly to Zhibao’s company wallet instead of paying cash.
- The deal gives Zhibao exposure to Bitcoin while adding 442 million units with shares and warrants.
Zhibao Technology has closed a $154.7 million private placement funded entirely with Bitcoin.
A group of non-US investors contributed 2,380 Bitcoin (CRYPTO:BTC) directly to Zhibao’s company wallet.
“This financing marks one of the most transformational moments in our decade-long history,” director Botao Ma said.
The Bitcoin was valued at a reference price of $65,000 per coin as of July 30.
Investors received 442 million units priced at $0.35 each, with every unit containing a Class A share and a two-year warrant.
About 396 million units were delivered at closing, with the remaining units subject to shareholder approval.
Zhibao will file a resale registration statement with the SEC within 45 days of the July 31 effective date.
At the time of reporting, Bitcoin price was $69,522.06.
