Nasdaq listed Zhibao Technology has signed a nonbinding term sheet with JOYERTECH AND INFORMATION OPC for a proposed private investment in public equity financing involving approximately 3,500 Bitcoin.
Under the proposed transaction, the buyer or a designated entity would subscribe for securities issued by Zhibao, with the consideration expected to include the Bitcoin. The 3,500 BTC would be worth approximately $228 million at Bitcoin’s current price of about $65,093.
The final amount remains subject to valuation, custody arrangements, audit verification, regulatory review, Nasdaq requirements, and definitive agreements.
Zhibao emphasized that the term sheet is nonbinding and said there is no guarantee that final agreements will be executed or that the financing will close.
The proposal would also result in a control transition at the company. JOYERTECH is expected to designate a majority of Zhibao’s board members when the financing closes.
