ZHIBAO TECHNOLOGY (ZBAO) Scraps Conversion Floor Price on Convertible Notes
The Shanghai insurtech sold a third $1M convertible note to 3i, LP and removed the floor price from all notes under its $6.7M facility.
Zhibao Technology (ZBAO) told the SEC in a Form 6-K that on September 17, 2026 it amended its convertible note facility with investor 3i, LP to remove the floor price entirely, and at the same time issued a third senior secured convertible note with an original principal amount of $1,000,000, purchased for $900,000 at a 10% original issue discount.
