Zhibao Tech Raises $154.7M in PIPE Financing with 2,380 Bitcoin Payment

Zhibao Technology Inc., a Cayman Islands exempted company, has closed its previously announced PIPE financing. The financing was led by non-U.S. investors and involved the issuance of $154.7 million in new capital.

According to the report filed with the SEC, Zhibao Technology delivered an aggregate of 2,380 Bitcoins to the Company's designated wallet account at closing in full satisfaction of the purchase price.

The PIPE financing was part of a larger effort by Zhibao Technology to raise capital and fund its operations. The company had previously announced plans to use the funds for various purposes, including business development and general corporate purposes.