Zhibao Technology Inc. Announces Closing of Underwriters’ Over-Allotment Option in Connection with Its Initial Public Offering

Shanghai, China, May 15, 2024 (GLOBE NEWSWIRE) -- Zhibao Technology Inc. (Nasdaq: ZBAO) (“Zhibao” or the “Company”), a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities in China, today announced that it issued an additional 23,765 Class A ordinary shares of the Company pursuant to the partial exercise of the underwriters’ over-allotment option in connection with the Company’s initial public offering at $4.00 per share, resulting in additional gross proceeds of $95,060.

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