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Zhibao Technology Sells Shares for 3,500 Bitcoin Amid NASDAQ Deficiency Notice

Guavy AI Editorial Team
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BTC
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Zhibao Technology, a Nasdaq-listed company, is planning to sell shares in exchange for approximately 3,500 Bitcoin through a PIPE financing deal.

The total value of this transaction is around $220 million, with the buyer expected to secure a majority of Zhibao's board seats after completion.

This news comes on the heels of a Nasdaq deficiency notice received by Zhibao on July 15 for its share price falling below $1 per share. The company has 180 calendar days to regain compliance.

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