key takeaways
- Zooz Power raised $ 180 million to make a bitcoin reserve strategy, before the first company is dual-list on the NASDAQ and work to catch bitcoin in your treasury.
- New funds will be allocated to purchase bitcoins, which will have to stop the position of zuz as a treasury-focused innovator.
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Zuz Power, an Israeli startup that specializes in flywheel-based power boosters and energy management solutions, is collecting $ 180 million in private investment to start its bitcoin reserve strategy according to A. According to A. Tuesday press release.
The company has been made the first dual listed company to keep bitcoin as core treasury assets. Zooz is currently listed under the Tel Aviv Stock Exchange (Task) under the same tick with ticker symbol zooz on the Nasdaq Exchange.
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As not released, private placements include 180 million ordinary stocks and pre-funded warrants at $ 1.00 per share, which include Pantera Capital, Falcon, Arington Capital, UTXO management, ATW Partners and Israeli investor Alex Rabinovich.
Jordan Fried, a member of a former founder team of Hedra Hashgraph, will play the role of Chief Executive Officer and Director on 31 July. Power flywheel-based solutions division.
Fried said that the purpose of zuz is to become a double -listed bitcoin treasury pioneer, which gives us and Israeli investors easy access. He said that computer would use her listing benefits to score bitcoin holdings and keep your treasury as strategic growing assets.
“We see our treasure developing into a strategic property that drives development, stability and discrimination.
The company plans to use approximately 95% of net processes to execute its bitcoin treatment, the remaining amount will be allocated for the general corporate purpose.
Zooz also announced an initial private placement, which is expected to shut down on 31, 2025, including selling 2.5 million ordinary shares at $ 2.00 per share with access to warrant. This placement is expected to generate $ 5 million in gross processes.
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