$154.7M Private Placement Closes for Chinese InsurTech Firm
Zhibao Technology Inc., an InsurTech company based in China, has closed a private investment in public equity (PIPE) financing totaling $154.7 million. The transaction involved the sale of 442 million units priced at $0.35 per unit, with each unit consisting of one Class A ordinary share and one warrant exercisable at $0.35 per share for two years from the closing date.
The company received 2,380 bitcoins as part of the purchase price, valued at $65,000 per bitcoin as of July 30, 2026. This financing was completed under Regulation S of the Securities Act of 1933, with non-U.S. investors participating in the deal.
Zhibao Technology's director, Botao Ma, said, 'The successful closing of this $154.7 million investment marks one of the most transformational moments in Zhibao’s 10-year history.'