Zhibao Technology, a Nasdaq-listed Chinese insurance-technology firm, has made a significant move in its treasury strategy with a $154.7 million private placement entirely funded by cryptocurrency, marking a notable Bitcoin treasury pivot. The private placement involved investors contributing 2,380 Bitcoin, valued at a reference price of $65,000 per Bitcoin as of July 30. This strategic shift underscores the company’s commitment to strengthening its financial base and expanding its AI-driven insurance products. The move highlights Zhibao Technology’s innovative approach in leveraging cryptocurrencies for corporate finance, marking a significant transformation in its operational strategies.
Zhibao Technology issued 442 million units in the private placement, priced at $0.35 per unit, with each unit pairing one Class A ordinary share and a two-year warrant. Approximately 396 million of the units were delivered at closing, with the remaining units to be delivered following shareholder approval. The units were issued to investors as consideration in the transaction. The two-year warrants accompany the Class A ordinary shares included in each unit.
Zhibao will file a resale registration statement with the U.S. Securities and Exchange Commission within 45 days of the July 31 effective date, covering the shares and warrants issued in the deal. The registration statement is intended to permit resale of both the Class A ordinary shares and the associated two-year warrants. The filing timeline is measured from the July 31 effective date specified in the transaction documentation. The registration will cover the securities issued in the private placement.
Company sources described the transaction as a transformational moment in the company’s decade-long history, saying it strengthens Zhibao’s financial base and positions the firm to expand its AI-driven insurance products. Those statements linked the private placement directly to reinforcement of the company’s financial foundation and to the expansion of its AI-driven insurance product offerings.
Company commentary noted that the participating investors bring deep expertise in cryptocurrency markets and infrastructure. The company said that the investors’ expertise is expected to open new opportunities for Zhibao. The remarks referenced investors’ experience in crypto markets and infrastructure as a factor in those expectations.
Metaplanet is seeding a U.S. treasury vehicle with 2,100 BTC, an amount reported as worth roughly $132 million. The seeding by Metaplanet was presented as a corporate treasury action tied to Bitcoin holdings. Strategy has halted its weekly Bitcoin purchases and initiated sales of batches of its other holdings. In a separate set of actions, Strategy raised $334 million through stock sales and did so without selling any of its Bitcoin holdings. These items were reported alongside Zhibao Technology’s private placement in the same coverage as related Bitcoin treasury activities.
Zhibao’s Bitcoin treasury pivot involved a private placement funded entirely in cryptocurrency and has been framed by the company as strengthening its financial base. Company commentary links the transaction to the expansion of its AI-driven insurance products and notes that participating investors bring expertise in crypto markets and infrastructure expected to open new opportunities for the firm.
