Zhibao Technology signs term sheet for PIPE share subscription backed by 3,500 bitcoins

Zhibao Technology signed a non-binding term sheet for a proposed PIPE in which the investor would subscribe for securities.

Consideration is expected to include about 3,500 bitcoin, subject to final valuation, custody arrangements, audit verification, regulatory review, and Nasdaq compliance.

The investor is expected to designate a majority of the board at closing, while legacy operations continue under the current management team.