Nasdaq-listed Zhibao plans bitcoin PIPE financing
Zhibao Technology signaled a non-binding PIPE to be paid with about 3,500 BTC, roughly $220 million, enabling a buyer to gain majority board control and place a large bitcoin treasury on Zhibao’s balance sheet while the company continues its existing business. The deal remains preliminary and subject to valuation, audits, regulatory review, and Nasdaq-related delisting risks already flagged for the company, with no firm confirmation yet.