Nasdaq-Listed Zhibao to Receive ¥37 Billion in Bitcoin for New Shares

Nasdaq-listed Zhibao Technology is set to receive approximately 3,500 Bitcoin worth ¥37 billion as consideration for new shares through a PIPE financing deal.

The buyer, JOYERTECH AND INFORMATION OPC, will gain the right to appoint a majority of the board of directors upon completion, effectively taking control of the company.

However, the letter of intent is non-binding and there is no guarantee that a definitive agreement will be reached or that the transaction will close.