Zhibao Technology announces closing of underwriters’ over-allotment option

Zhibao Technology 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. Total proceeds of the Company’s initial public offering, including the exercise of the over-allotment option, were $6,095,060, before offering expenses and underwriting discounts. EF Hutton LLC acted as the sole book-running manager for the offering.