Zhibao Technology, a Chinese insurance technology company listed on Nasdaq, closed a private funding round of $154.7 million paid entirely in cryptocurrencies.
A syndicate of non-U.S. investors deposited 2,380 Bitcoin directly into a corporate wallet, without any prior conversion to cash, at a reference price of $65,000 per unit based on market levels as of July 30. In exchange, participants received 442 million units at $0.35 each, structured as Class A ordinary shares combined with two-year warrants.
Director Botao Ma described the transaction as one of the most transformative moments in the company’s decade-long history, noting that the agreement strengthens Zhibao’s financial foundation and positions it to expand its artificial intelligence-driven insurance products. The firm, which presents itself as a pioneer of embedded digital insurance in China, maintained that the transaction is an inflection point, not a departure from its core business.
What sets Zhibao apart is precisely its structure: while most companies with Bitcoin treasuries raise cash and then purchase the assets on the market, here investors delivered the BTC directly. Zhibao reported that it will file with the SEC a resale registration statement within 45 days following the effective date of July 31, covering the shares and warrants issued in the transaction.
Source:Â https://www.sec.gov/Archives/edgar/data/1966750/000121390026090530/ea030233201ex99-2.htm
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