$ZBAO

Zhibao Technology Inc. secured up to $6.67 million through a private placement of senior secured convertible notes, with an initial $3.33 million tranche closing on April 10, 2026. These one-year notes bear 7% interest and convert into Class A shares at $0.87 per share, while imposing anti-dilution provisions and participation rights for the investor. This financing aims to address the company's capital needs but introduces tighter capital-structure constraints and potential equity dilution for existing shareholders.