Zhibao Technology Inc. Announces Closing of Initial Public Offering
04 April 2024 - 7:05AM
Zhibao Technology Inc. (Nasdaq: “ZBAO” or the
“Company”), a leading and high growth InsurTech
company primarily engaging in providing digital insurance brokerage
services through its operating entities in China, today announced
the closing of its initial public offering ("Offering”) of
1,500,000 Class A ordinary shares at a public offering price of
$4.00 per Class A ordinary share for aggregate gross proceeds of
$6,000,000, before deducting underwriting discounts and offering
expenses. The Company has granted the underwriters a 45-day option
to purchase up to an additional 225,000 Class A ordinary shares to
cover the over-allotment at the public offering price, less
underwriting discounts and commissions. The Class A ordinary shares
began trading on the Nasdaq Capital Market on April 2, 2024 under
the symbol "ZBAO."
EF Hutton LLC acted as the sole book-running
manager for the Offering.
A registration statement on Form F-1 (File
Number: 333 -274431) relating to the Offering, as amended, was
filed with the U.S. Securities and Exchange Commission (the “SEC”)
and was declared effective by the SEC on March 29, 2024. A final
prospectus related to the Offering was filed on April 2, 2024, and
made available on the SEC's website at http://www.sec.gov. The
Offering was made only by means of a prospectus, forming part of
the effective registration statement. A copy of the final
prospectus related to the Offering may be obtained from EF Hutton
LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention:
Syndicate Department, or via email at syndicate@efhutton.com or
telephone at (212) 404-7002. In addition, a copy of the final
prospectus relating to the Offering may be obtained via the SEC's
website at www.sec.gov.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Zhibao Technology Inc.
Zhibao Technology Inc. (“Zhibao” or the
“Company”) is a leading and high growth InsurTech company primarily
engaging in providing digital insurance brokerage services through
its operating entities (“Zhibao China Group”) in China. 2B2C
(“to-business-to-customer”) digital embedded insurance is the
Company’s innovative business model, which Zhibao China Group
pioneered in China. Zhibao China Group launched the first digital
insurance brokerage platform in China in 2020, which is powered by
their proprietary PaaS (“Platform as a Service”).
Zhibao has developed more than 40 proprietary
and innovative digital insurance solutions addressing different
scenarios in a wide range of industries, including but not limited
to travel, sports, logistics, utilities, and e-commerce. Zhibao
China Group acquire and analyze customer data, utilize big data and
artificial intelligence technology to continually iterate and
enhance its digital insurance solutions. This iterative process, in
addition to continually improving its digital insurance solutions,
will keep the Company abreast of the new trends and customer
preferences in the market.
For more information, please visit the
Company’s website at www.zhibao-tech.com.
Forward-Looking Statements
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
"forward-looking statements" within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements relating to the expected trading
commencement and closing dates. The words "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intend," "may," "plan,"
“is/are likely to,” "potential," "predict," "project," "should,"
"target," "will," "would" and similar expressions are intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words. The
Company undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations that arise after
the date hereof, except as may be required by law. These statements
are subject to uncertainties and risks including, but not limited
to, the uncertainties related to market conditions, and other
factors discussed in the "Risk Factors" section of the registration
statement filed with the SEC. Although the Company believes that
the expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company’s registration statement and other
filings with the SEC. Additional factors are discussed in the
Company’s filings with the SEC, which are available for review at
www.sec.gov.
Contact Information:
For Media and Investor Relations Zhibao
Technology Inc.Investor Relations Officeir@zhibao-tech.com
Skyline Corporate Communications Group,
LLCScott Powell, PresidentAvenues Tower1177 Avenue of the
Americas, 5th floorNew York, NY 10036Office: (646) 893-5835Email:
info@skylineccg.com
Zhibao Technology (NASDAQ:ZBAO)
Historical Stock Chart
From Oct 2024 to Nov 2024
Zhibao Technology (NASDAQ:ZBAO)
Historical Stock Chart
From Nov 2023 to Nov 2024