Question 1

What is a PIPE, and how is Zhibao's version different?

Accepted Answer

A PIPE, or private investment in public equity, is a sale of newly issued shares directly to a private buyer instead of on the open market. Zhibao's version is unusual because the buyer would pay in about 3,500 Bitcoin rather than cash. No BTC gets bought on an exchange, and the buyer also takes majority board control.

Question 2

Is Zhibao at risk of being delisted from Nasdaq?

Accepted Answer

Yes. Zhibao received a Nasdaq minimum bid-price deficiency notice on July 15, 2026 after its shares traded below $1. It has until January 6, 2027 to cure the deficiency, mainly by getting the share price back above $1 for ten consecutive business days.

Question 3

Who is Joyertech and Information OPC?

Accepted Answer

Zhibao's press release identifies the buyer only as Joyertech and Information OPC and gives no further background. "OPC" stands for One Person Company, a corporate structure used in several jurisdictions.

ZBAO

Zhibao closes $154.7M all-Bitcoin financing, paid in 2,380 BTC

Zhibao takes 3,500 Bitcoin for stock, hands board to buyer

One sharp brief.
Every day.

ZBAO

Zhibao closes $154.7M all-Bitcoin financing, paid in 2,380 BTC

Zhibao takes 3,500 Bitcoin for stock, hands board to buyer

One sharp brief.Every day.

One sharp brief.
Every day.