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Zhibao signs $154.7 million Bitcoin PIPE that could hand investors control

Zhibao signs $154.7 million Bitcoin PIPE that could hand investors control

The Nasdaq-listed Chinese company agreed to a 2,380-BTC PIPE that would hand the investor group board and management control if the deal closes within 12 business days of July 31.

BTC

Fact Check
The primary SEC filing (Exhibit 99-2) directly confirms every material element of the claim: Nasdaq-listed Zhibao Technology signed a definitive PIPE agreement on July 31, 2026, aggregating $154.7 million, paid via 2,380 BTC (valued at $65,000/BTC), with closing within 12 business days, and investors gaining control by appointing 4 of 5 board directors and a new CEO and CFO. CryptoSlate and Wu Blockchain independently corroborate these figures. The description 'hand investors board and management control' and the '12 business days of July 31' timing match the filing precisely.
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Summary

Zhibao Technology has signed a $154.7 million private investment in public equity (PIPE) agreement priced in Bitcoin that, if completed, would transfer effective control of the Nasdaq-listed Chinese company to the incoming investor group. The deal calls for 10 investment firms to receive 44.2 million units each, for a total of 442 million units, with every unit comprising one common share and one warrant with a two-year maturity. Each investor would pay 238 BTC, for total consideration of 2,380 BTC, using a Bitcoin reference price of $65,000 set on July 30. The transaction would trigger a governance overhaul at closing. Investors would gain the right to appoint four of the company’s five directors and install a new CEO and CFO. The parties aim to complete the deal within 12 business days of July 31.

Terms & Concepts
  • PIPE: A private investment in public equity, in which investors buy securities directly from a listed company.
  • warrant: A security that gives the holder the right to buy shares at a set price before expiration.