SHANGHAI, April 1, 2024 (Globe Newswire) — Zhibao Technology Inc. (“ZBAO”)” or “companyThe Company, a leading high-growth insurtech company primarily engaged in providing digital insurance brokerage services through its entities in China, today announced the pricing of its initial public offering (the “Offering”) of 1,500,000 shares of its Class A common stock. Announced. Total gross proceeds to the Company, before deducting underwriting discounts and offering expenses, will total $6,000,000, with $4.00 per share being offered to the public.
The Company has granted the underwriters a 45-day option to purchase up to an additional 225,000 shares of Class A common stock to cover over-allotments, if any. All Class A common stock is offered by the Company. The Class A common stock has been approved for listing on the Nasdaq Capital Market and is expected to begin trading on April 2, 2024 under the symbol “ZBAO.” The offering is expected to close on April 3, 2024, subject to customary closing conditions.
EF Hutton LLC is acting as the sole bookrunning manager for this offering.
A registration statement on Form F-1 relating to the amended offering was filed with the Securities and Exchange Commission (the “SEC”) (File Number: 333 -274431) and was declared effective by the SEC on March 29, 2024 . This offering will be made only by means of a prospectus forming part of the effective registration statement. A preliminary prospectus relating to this offering has been filed with the SEC. A copy of the final prospectus relating to the offering, if available, will be filed with the SEC and may be obtained from EF Hutton LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attendance: Syndicate Division, or by email. can. Contact syndicate@efhutton.com or call (212) 404-7002. In addition, a copy of the final prospectus relating to the offering, if available, may be obtained from the SEC's website at: www.sec.gov.
Before investing, you should read the prospectus and other documents that the company has filed or will file with the SEC for more complete information about the company and its offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or registration. There shall be no sale of these securities. Eligibility under the securities laws of any applicable state or jurisdiction.
About Zhibao Technology Inc.
Zhibao Technology Inc. (“Zhibao” or the “Company”) is a leading high-growth insurtech company primarily engaged in providing digital insurance intermediation services through its Chinese entities (“Zhibao China Group”). 2B2C (“Business to Customer”) digital embedded insurance is our innovative business model pioneered in China by Zhibao China Group. Zhibao China Group launched China's first digital insurance brokerage platform in 2020, leveraging its unique PaaS (“Platform as a Service”).
Zhibao has developed over 40 unique and innovative digital insurance solutions that address various scenarios in a wide range of industries, including but not limited to travel, sports, logistics, utilities, e-commerce, etc. Zhibao China Group captures and analyzes customer data and leverages big data and artificial intelligence technology to continuously iterate and enhance its digital insurance solutions. This iterative process allows us to stay abreast of new market trends and customer preferences, in addition to continuously improving our digital insurance solutions.
For more information, please visit our website (www.zhibao-tech.com).
Forward-looking statements
Statements in this press release regarding future expectations, plans and prospects, and 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. there is. These statements include, without limitation, statements regarding the anticipated commencement and termination dates of transactions. “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “likely” ”, “may”, “anticipate”, “predict”, “should”, “target”, “will”, “would” and similar expressions refer to future forward-looking statements, not all forward-looking statements contain these identifying words. We may publicly update or revise any forward-looking statements to reflect subsequent events or circumstances or changes in expectations after the date hereof, except as required by law. No obligation. These statements are subject to uncertainties and risks. This includes, but is not limited to, uncertainties related to market conditions, completion of the initial public offering on anticipated terms or at all, and other factors described in the Risk Factors section of this document. Not limited to these. Registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company cautions investors that actual results may differ materially from anticipated results and encourages investors to: We discuss other factors that may affect future results in our registration statement and other filings with the SEC. Additional factors are described in the Company's filings with the SEC, which are available at www.sec.gov.
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