Svmuu News Nasdaq Zhibao Technology, a publicly listed digital insurance products company, announced that it has signed a non-binding term sheet with Joyertech and Information OPC to sell shares through a PIPE financing and receive approximately 3,500 Bitcoin as consideration, valued at approximately $220 million at current prices.
The transaction remains subject to a final valuation, escrow arrangements, audit verification, regulatory review, compliance with Nasdaq, and the signing of a definitive agreement. The term sheet indicates that upon closing of the PIPE financing, the buyer is expected to appoint a majority of Zhibao’s board members, while the existing management team will continue to oversee day-to-day operations.
Zhibao disclosed on July 15 that it had received a deficiency notice from the Nasdaq because its stock price fell below $1 per share. The company has 180 calendar days to regain compliance with the Nasdaq minimum bid price requirement of $1 per share, with the deadline set for January 6, 2027.