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Zhibao Technology Inc. Financial Report: Key Agreements & Growth Opportunities Revealed

$ZBAO
Form 6-K
Filed on: 2024-12-20
Source
Zhibao Technology Inc. Financial Report: Key Agreements & Growth Opportunities Revealed

Here are the key insights extracted from the financial report (Form 6-K) of Zhibao Technology Inc. dated December 20, 2024:

Company Overview:

  • Name: Zhibao Technology Inc.
  • Incorporation: Cayman Islands exempted company.
  • Address: Floor 3, Building 6, Wuxing Road, Lane 727, Pudong New Area, Shanghai, China, 201204.

Key Financial Agreements:

  1. Share Purchase Agreement:
  • Date Signed: December 16, 2024.
  • Parties Involved: Zhibao Technology Inc., GEM Global Yield LLC SCS, and GEM Yield Bahamas Limited.
  • Investment Amount: Up to $50,000,000 to purchase Class A ordinary shares.
  • Investment Period: Three years from December 16, 2024.
  • Purchase Mechanism: GEM can buy shares up to 700% of the average daily trading volume for the preceding 30 trading days.
  • Pricing: GEM will pay 90% of the average market closing price during a designated pricing period.
  1. GEM Warrant:
  • Issued to: GEM Yield Bahamas Limited.
  • Quantity: Right to purchase 467,800 Ordinary Shares.
  • Exercise Price: $3.95 per Ordinary Share, subject to adjustments.
  • Term: 36 months.
  1. Registration Rights Agreement:
  • Zhibao must file a registration statement with the SEC by 30 days post-agreement to register shares for resale to GEM and GYBL.
  1. Investor Waiver Agreement:
  • This was signed on the same date (December 16, 2024) with a Noteholder in relation to a previous securities purchase agreement.
  • Warrants Issued: 240,000 Ordinary Shares to Noteholder at an exercise price of $2.8144 per share.

Regulatory Compliance:

  • The agreements are structured to comply with the Securities Act of 1933, particularly relying on exemptions under Sections 4(a)(2) and Regulation D.

Additional Notes:

  • The report indicates that the agreements contain customary representations and warranties, along with conditions for future transactions.
  • The document outlines specific rights and obligations related to the issuance of shares and the conditions under which they may be adjusted or exercised.

Filing Information:

  • Commission File Number: 001-42000.
  • Filing Date: December 20, 2024.

This report provides critical insights into Zhibao Technology Inc.'s capital raising activities and strategic partnerships, reflecting both potential growth opportunities and obligations stemming from the agreements made.