Zhibao Technology signs non-binding term sheet for about 3,500 Bitcoins in PIPE financing

Zhibao Technology said it signed a non-binding term sheet with Joyertech and Information OPC for a PIPE financing transaction expected to be settled using about 3,500 Bitcoin, worth roughly $220 million. The proposed deal remains subject to final valuation, custodial arrangements, audit verification, regulatory review, Nasdaq compliance, due diligence, definitive agreements and other customary closing conditions, and the company said the transaction may still be revised or abandoned. If completed, the buyer or its designated entity would subscribe to newly issued securities, gain the right to nominate a majority of the board and effectively take control of the company, while current management would continue running day-to-day operations until the legacy insurance business is separated, disposed of or otherwise restructured. The structure would place a large Bitcoin treasury on Zhibao's balance sheet as part of the financing itself, rather than through a later open-market purchase. Zhibao shares jumped from about $0.15 to nearly $0.40 after the announcement before easing to around $0.24, still roughly 60% above pre-announcement levels, days after the company disclosed a Nasdaq deficiency notice tied to its sub-$1 share price and a Jan. 6, 2027 deadline to regain compliance. The proposal lands as more than 150 public companies hold Bitcoin on their balance sheets, but recent moves by companies including ORANGE JUICE, Bitcoin Japan, Capital B and Empery show treasury strategies are diverging across the market.