Zhibao Technology (ZBAO) Announces Up to $7.2M Convertible Note Financing
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Zhibao Technology Inc. Announces Up to $7.2 Million Convertible Note Financing
September 23, 2024 4:03 PM EDTShanghai, China--(Newsfile Corp. - September 23, 2024) - Zhibao Technology Inc.(NASDAQ: ZBAO) ("Zhibao" or the "Company"), a leading and high growth InsurTech company primarily engaged in providing digital insurance brokerage services through its operating entities in China, today announced that it has entered into a definitive securities purchase agreement with an institutional investor for the sale of senior secured 10% original issue discount convertible promissory notes (the "Notes") in the principal amount of up to $8 million, with 40% warrant coverage, to be drawn in tranches, for gross proceeds of up to $7.2 million. The Company also issued... More
