Nasdaq-listed digital insurance products company Zhibao Technology said it has signed a non-binding term sheet with Joyertech and Information OPC for a proposed private investment in public equity, or PIPE, transaction. Under the plan, Zhibao would sell stock and receive about 3,500 BTC as consideration, valued at roughly $220 million at current prices. The proposed deal has not been finalized and remains subject to several conditions, including final valuation, custody arrangements, audit verification, regulatory review, Nasdaq compliance, and execution of definitive agreements. The term sheet also indicates that, at closing, the buyer is expected to designate a majority of Zhibao’s board members, while the existing management team would continue to handle day-to-day operations. Separately, Zhibao disclosed on July 15 that it had received a Nasdaq deficiency notice because its share price had fallen below the $1 minimum bid requirement. The company said it has 180 calendar days, until January 6, 2027, to regain compliance.
Nasdaq-listed digital insurance products company Zhibao Technology said it has signed a non-binding term sheet with Joyertech and Information OPC for a proposed private investment in public equity, or PIPE, transaction. Under the proposal, Zhibao would sell stock and receive about 3,500 BTC as consideration, worth roughly $220 million at current prices.
Deal remains subject to multiple conditions
The transaction has not been finalized. It remains subject to final valuation, custody arrangements, audit verification, regulatory review, Nasdaq compliance, and the signing of definitive agreements.
Buyer expected to name most of the board
According to the term sheet, the buyer is expected to designate a majority of Zhibao’s board members when the PIPE financing closes. The company’s current management team would continue to oversee day-to-day operations.
Zhibao previously disclosed Nasdaq deficiency notice
Zhibao said on July 15 that it had received a Nasdaq deficiency notice after its share price fell below the $1 minimum bid requirement. The company has 180 calendar days to regain compliance with Nasdaq’s $1 minimum bid price rule, with the deadline running through January 6, 2027.
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