Zhibao Technology (NASDAQ: ZBAO), a leading and high-growth InsurTech company primarily providing digital insurance brokerage services through its operating entities in China, recently announced the closing of its initial public offering. The offering consisted of 1,500,000 Class A ordinary shares, each at $4.00, for aggregate gross proceeds of $6,000,000 before deductions. According to the announcement, the company has granted the underwriters a 45-day option to purchase up to an additional 225,000 Class A ordinary shares to cover the over-allotment at the public offering price, less underwriting discounts and commissions. The Class A ordinary shares began trading on the Nasdaq Capital Market on Apr. 2, 2024, under the symbol ZBAO. EF Hutton LLC acted as the sole book-running manager for the offering.
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About Zhibao Technology Inc.
Zhibao Technology is a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities (“Zhibao China Group”) in China. 2B2C (“to-business-to-customer”) digital embedded insurance is the company’s innovative business model, which Zhibao China Group pioneered. Zhibao China Group launched the first digital insurance brokerage platform in China in 2020, which is powered by its proprietary PaaS (“Platform as a Service”). Zhibao has developed more than 40 proprietary and innovative digital insurance solutions addressing different scenarios in a wide range of industries, including but not limited to travel, sports, logistics, utilities, and e-commerce. Zhibao China Group acquires and analyzes customer data, utilizing big data and artificial intelligence technology to continually iterate and enhance its digital insurance solutions. This iterative process, in addition to continually improving its digital insurance solutions, will keep the company abreast of the new trends and customer preferences in the market. For more information, visit the company’s website at www.Zhibao-Tech.com.
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