Nasdaq-Listed Zhibao Wants a Bitcoin Treasury, Plans to Sell $220M in Stock for BTC
In brief Zhibao Technology signed a non-binding term sheet with Joyertech and Information OPC for a PIPE financing deal involving roughly 3,500 Bitcoin, worth approximately $220 million at current prices. The buyer...
Bitcoin 1 Minute
An important story is making waves across the blockchain ecosystem. In brief Zhibao Technology signed a non-binding term sheet with Joyertech and Information OPC for a PIPE financing deal involving roughly 3,500 Bitcoin, worth approximately $220 million at current prices. The buyer would designate a majority of Zhibao's board of directors at closing, effectively taking control of the company while current management continues running day-to-day operations.
Zhibao received a Nasdaq deficiency letter on July 15 for trading below $1 per share, and its stock briefly doubled after the Bitcoin treasury announcement.
This shift continues to shape the digital-asset landscape, with analysts examining its near-term effects.
