10 Mystery Investors Use 2,380 BTC to Seize Nasdaq Firm

Zhibao Technology, a Chinese insurtech company listed on the Nasdaq, has entered into a private investment agreement worth $154.7 million. Ten mystery investors have agreed to pay the company 2,380 BTC to secure control over the board and management. If the deal closes, these investors will appoint four of the five board directors, along with a new CEO and CFO.

Under the terms, the investors receive 442 million units at $0.35 each, with each unit including a share and a warrant to purchase another share at the same price. This move would drastically dilute existing shareholders and remove the voting advantage currently held by Class B shareholders. The company has not yet confirmed a closing date, and several conditions, including regulatory and shareholder approvals, must be met first.

This deal arrives while Zhibao faces significant pressure from the Nasdaq. The company is currently failing to meet minimum bid price requirements, putting its listing status at risk. Investors should watch for official filings regarding the status of the Bitcoin transfer, as the identities of the mystery backers and the availability of the funds remain unverified.