05:48 PM EDT, 09/23/2024 (MT Newswires) -- Zhibao Technology ( ZBAO ) said late Monday it signed a deal with an institutional investor for the sale of up to $8 million of senior secured 10% original issue discount convertible promissory notes.
The company said it expects gross proceeds of up to $7.2 million and plans to use the net proceeds for working capital purposes.