Zhibao Technology Inc. Class A (ZBAO) has released an update.
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Zhibao Technology Inc. has issued a Senior Secured 10% Original Issue Discount Convertible Promissory Note, with a principal of up to $2,500,000 and a loan amount of up to $2,250,000, due one year from the original issuance date of September 23, 2024. Payments on the note will be in monthly installments, with the option for the company to pay in cash or conversion shares under certain conditions. The note is secured by the company’s subsidiaries and has provisions for early conversion or prepayment, as specified in the accompanying Purchase Agreement.
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