Zhibao Technology Inc. (ZBAO) announced today the pricing of its initial public offering (the “Offering”) of 1,500,000 Class A ordinary shares at a price of $4.00 per share to the public for a total of $6,000,000 of gross proceeds to the Company, before deducting underwriting discounts and offering expenses.
The Company has granted a 45-day option to the underwriters to purchase up to 225,000 additional Class A ordinary shares solely to cover over-allotments, if any. All of the Class A ordinary shares are being offered by the Company. The Class A ordinary shares have been approved for listing on The Nasdaq Capital Market and are 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 book-running manager for the Offering.
A registration statement on Form F-1 relating to the Offering, as amended, 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. The Offering is being made only by means of a prospectus, forming part of the effective registration statement. A preliminary prospectus relating to the Offering has been filed with the SEC. A copy of the final prospectus related to the Offering, when available, will be filed with the SEC and may be obtained from EF Hutton LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@efhutton.com or telephone at (212) 404-7002. In addition, a copy of the final prospectus, when available, relating to the Offering may be obtained via the SEC's website at www.sec.gov.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.