Zhibao to replace CEO, CFO as investors nominate new board slate after PIPE closing
ZBAO•Management overhaul tied to PIPE financing
- Zhibao outlined a management overhaul tied to a PIPE financing slated to close within 12 business days of July 31.
- Board to be reset to five directors at closing; four incumbent directors to resign.
- Current chief executive officer and chief financial officer to resign; investors to designate a new CEO and CFO.
- Chairman and CEO Botao Ma to remain on the board as a director.
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