Zhibao Technology Inc. Updates $8M Financing Agreement
Ticker: ZBAO · Form: 6-K · Filed: Dec 11, 2024 · CIK: 1966750
| Field | Detail |
|---|---|
| Company | Zhibao Technology Inc. (ZBAO) |
| Form Type | 6-K |
| Filed Date | Dec 11, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $8.0 million, $2,500,000, $4.71, $0.0001, $675,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, debt
TL;DR
Zhibao Tech confirms $8M loan facility with institutional investor, originally signed Sept 23, 2024.
AI Summary
Zhibao Technology Inc. is providing an update on a securities purchase agreement originally disclosed on September 23, 2024. This agreement allows for loans up to an aggregate principal amount of $8.0 million from an institutional investor. The filing is for the month of December 2024.
Why It Matters
This filing provides an update on the status of a significant financing agreement, which could impact the company's capital structure and future operations.
Risk Assessment
Risk Level: medium — The company is updating a financing agreement, which could indicate ongoing capital needs or changes in its financial strategy.
Key Numbers
- $8.0 million — Aggregate Principal Amount (Maximum loan amount available under the securities purchase agreement.)
Key Players & Entities
- Zhibao Technology Inc. (company) — Registrant
- September 23, 2024 (date) — Date of original disclosure
- $8.0 million (dollar_amount) — Aggregate principal amount of loans
- institutional investor (company) — Party to the securities purchase agreement
FAQ
What is the purpose of this Form 6-K filing?
This Form 6-K is a Report of Foreign Private Issuer providing an update on a previously disclosed securities purchase agreement.
When was the original securities purchase agreement disclosed?
The original securities purchase agreement was previously disclosed on a Form 6-K filed on September 23, 2024.
Who is the counterparty to the securities purchase agreement?
The counterparty is an institutional investor.
What is the maximum aggregate principal amount of loans provided for in the agreement?
The agreement provides for loans in an aggregate principal amount of up to $8.0 million.
What is Zhibao Technology Inc.'s principal executive office address?
The principal executive offices are located at Floor 3, Building 6, Wuxing Road, Lane 727 Pudong New Area, Shanghai, China, 201204.
Filing Stats: 944 words · 4 min read · ~3 pages · Grade level 14.5 · Accepted 2024-12-11 16:15:38
Key Financial Figures
- $8.0 million — an aggregate principal amount of up to $8.0 million under three tranches (the “Financ
- $2,500,000 — the aggregate principal amount of up to $2,500,000 (the “Note”), (B) a warrant
- $4.71 — rdquo;) at an initial exercise price of $4.71 per Ordinary Share, subject to certain
- $0.0001 — y Shares at a nominal exercise price of $0.0001 per Ordinary Share, subject to certain
- $675,000 — Note). In return, the Company received $675,000 (net of original issue discount of 10%)
- $4.47 — Shares at an initial exercise price of $4.47 per Ordinary Share, subject to certain
- $900,000 — n of the first tranche in the amount of $900,000 as provided under Section 2.1(a)(iii) o
- $3.25 — Shares at an initial exercise price of $3.25 per Ordinary Share, subject to certain
Filing Documents
- ea0224339-6k_zhibao.htm (6-K) — 17KB
- ea022433901ex4-1_zhibao.htm (EX-4.1) — 105KB
- ea022433901ex10-1_zhibao.htm (EX-10.1) — 9KB
- 0001213900-24-107900.txt ( ) — 133KB
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibits. Exhibit Number Exhibit 4.1*+ Form of Class A Ordinary Shares Purchase Warrant 10.1* Letter Agreement dated December 11, 2024 by and between the Company and the Investor * Filed herewith. + Certain exhibits and schedules have been omitted in accordance with Item 601(a)(5) of Regulation S-K. The registrant agrees to furnish supplementally a copy of any omitted exhibit or schedule to the Commission upon its request. 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Zhibao Technology Inc. Date: December 11, 2024 By: /s/ Botao Ma Name: Botao Ma Title: Chief Executive Officer 2