Odaily Planet Daily reports that Nasdaq-listed Zhibao Technology signed a PIPE agreement worth approximately $155 million on July 31, with investors paying 2,380 bitcoins at a fixed price of $65,000 per bitcoin, in exchange for board control. The agreement lists ten investor entities, each allocated 44.2 million units, totaling $15.47 million paid in 238 bitcoins. Investors purchased 442 million units at $0.35 per unit, with each unit comprising one Class A common share and a two-year warrant to purchase one additional share at an exercise price of $0.35, resulting in a potential total issuance of 884 million shares.
Zhizhao Tech Secures $155M PIPE Deal with 2,380 BTC Payment
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Summary
Zhizhao Tech finalized a $155 million PIPE deal on July 31, with investors paying 2,380 BTC at a fixed BTC price of $65,000. Each investor received 442 million units at $0.35, including one share and a two-year warrant. This move underscores BTC’s dominance in large-scale transactions.
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