ZOOZ Power Ltd.(ZOOZ)
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ZOOZ Launches New Dashboard And Cuts Costs
Prnewswire· 2025-12-16 13:46
Core Insights - ZOOZ Strategy is launching an interactive dashboard to provide real-time access to key market data, enhancing transparency and understanding of the company's operations and financial position [1][2][3] Group 1: Dashboard Features - The dashboard will display stock performance, market trends, KPIs, and milestone achievements, serving as a streamlined tool for stakeholders [2] - The launch of the dashboard aligns with ZOOZ's efforts to reduce expenditures ahead of the 2026 fiscal year, supporting efficiency goals and strengthening operational foundations [2] Group 2: Company Strategy - ZOOZ is the first dual-listed company on Nasdaq and TASE implementing a long-term Bitcoin treasury strategy, aiming to provide shareholders with long-term exposure to Bitcoin while adhering to financial and regulatory standards [3] - The company emphasizes its commitment to transparency and strategic decision-making, as articulated by CEO Jordan Fried [3]
ZOOZ Strategy Announces a $50 Million Share Repurchase Program, Subject to Meeting Regulatory Requirements
Globenewswire· 2025-11-03 13:30
Core Viewpoint - ZOOZ Strategy Ltd. has announced a share repurchase program to buy back up to $50 million of its outstanding ordinary shares over a 12-month period, aiming to enhance shareholder value while pursuing its Bitcoin treasury strategy [1][2][3]. Group 1: Share Repurchase Program - The Board of Directors has approved a share repurchase program for up to $50 million, which will be executed in compliance with regulatory requirements [1]. - The program allows for flexibility in repurchasing shares through various methods, including open market purchases and negotiated transactions [1]. - The company is not obligated to repurchase a specific number of shares and can suspend or discontinue the program at its discretion [2]. Group 2: Bitcoin Strategy - ZOOZ aims to acquire the largest Bitcoin position in the Middle East, indicating that repurchasing shares may sometimes yield better returns than other investments [3]. - As of October 30, 2025, the company holds 1,036 Bitcoin valued at approximately $116.82 million [3]. - ZOOZ is positioned as a pioneer in holding Bitcoin as a strategic asset, providing shareholders with long-term exposure to Bitcoin while adhering to financial and regulatory standards [4].
ZOOZ Expands Its Bitcoin Treasury to 1,036 Bitcoin Following Additional Purchase
Prnewswire· 2025-10-28 12:30
Core Insights - ZOOZ Strategy Ltd. has acquired an additional 94 Bitcoin at an average price of $112,000 per Bitcoin, totaling approximately $10 million, bringing its total Bitcoin holdings to 1,036 Bitcoin [1][3] - The company's strategy reflects its commitment to integrating Bitcoin as a core treasury asset, making it the first dual-listed company on Nasdaq and TASE to do so [2][4] - Since launching its Bitcoin treasury strategy in July 2025, ZOOZ has invested approximately $115 million in acquiring a total of 1,036 Bitcoin [3] Company Strategy - ZOOZ is pioneering a long-term Bitcoin treasury strategy, positioning itself as a bridge between traditional capital markets and the Bitcoin economy [2][3] - The company aims to provide investors with direct Bitcoin exposure denominated in New Israeli Shekels (NIS), offering a unique opportunity in the capital markets [2][4] - CEO Jordan Fried emphasized the belief in Bitcoin as a resilient store of value and a cornerstone of sound financial strategy [3] Financial Overview - The total acquisition value for ZOOZ's Bitcoin holdings is approximately $115 million, reflecting a significant investment in digital assets [3] - The recent purchase of 94 Bitcoin adds to the company's growing treasury, reinforcing its financial strategy [1][3]
ZOOZ Purchases 88 More Bitcoin, Growing Its Total Bitcoin Treasury to 942 Bitcoin
Globenewswire· 2025-10-16 12:30
Core Insights - ZOOZ Power Ltd. has completed the purchase of 88.888 Bitcoin at an average price of $112,500 per Bitcoin, totaling $10 million, bringing its total Bitcoin treasury to approximately 942 Bitcoin [1][4]. Company Strategy - This acquisition marks a significant step in ZOOZ's long-term institutional Bitcoin treasury strategy, positioning the company as a pioneer in offering direct Bitcoin exposure on both Nasdaq and the Tel Aviv Stock Exchange (TASE) [2][5]. - The CEO of ZOOZ emphasized the company's goal to hold Bitcoin as a core financial asset, viewing it as a strategic store of value that protects capital during financial volatility [3]. Financial Overview - Since adopting its Bitcoin treasury strategy in July 2025, ZOOZ has acquired a total of approximately 942 Bitcoin, reflecting a swift and strategic execution of its investment plan [4].
ZOOZ Purchases 329 Bitcoin valued at $40 Million, Bringing Total Holding to 854 Bitcoin Valued at More than $100m
Prnewswire· 2025-10-06 12:30
Core Insights - ZOOZ Power Ltd. has completed an additional purchase of 329 Bitcoin for approximately $40 million, increasing its total Bitcoin holdings to 854 Bitcoin valued at over $100 million, marking a significant advancement in its Bitcoin treasury reserve strategy [1][2] - The company aims to transform into an institutional-quality Bitcoin treasury, focusing on long-term holding of Bitcoin to provide investors with exposure to the Bitcoin asset class through ZOOZ equity [2] - ZOOZ is the first dual-listed company on Nasdaq and TASE implementing a long-term strategic Bitcoin treasury, positioning itself as a pioneer in capital allocation and offering shareholders potential long-term asymmetric upside through direct Bitcoin exposure [3] Bitcoin Purchases - To date, ZOOZ has purchased a total of 854 Bitcoin for an aggregate consideration of $100 million, funded by the net proceeds from a private placement announced on July 29, 2025 [2]
Zooz Completes $60 Million Bitcoin Purchase
Prnewswire· 2025-09-30 15:23
Core Insights - ZOOZ Power Ltd. has initiated a bitcoin treasury reserve strategy, marking a significant shift in its capital allocation approach [1][6] - The company successfully closed a private placement, raising net cash proceeds of $159 million, with approximately 95% allocated for bitcoin acquisition [5][3] - ZOOZ has purchased approximately 525 bitcoins for a total of $60 million, officially launching its treasury program [1][3] Financial Highlights - The private placement was initially announced on July 29, 2025, and received shareholder approval on September 19, 2025 [1] - The company filed a shelf registration statement allowing it to raise up to $1 billion in additional capital [1] - The financing includes $5 million from the July 2025 PIPE and the potential for an additional $3 million [5] Strategic Direction - ZOOZ aims to deploy capital efficiently into bitcoin and provide clear BTC-per-share reporting to investors [2] - The company emphasizes disciplined risk management to ensure market understanding of its long-term intentions [2] - The board of directors has been reconstituted with new appointments following shareholder approval [5] Market Position - ZOOZ is the first dual-listed company on Nasdaq and TASE implementing a long-term strategic bitcoin treasury [6] - This innovative approach is expected to position ZOOZ as a pioneer in capital allocation, providing shareholders with long-term exposure to bitcoin [6]
X @Bitcoin Archive
Bitcoin Archive· 2025-09-19 15:04
Company Strategy - ZOOZ Power, a Nasdaq-listed company, approves plan to allocate $180 million to purchase Bitcoin for its treasury [1] - 95% of the $180 million proceeds will be directly invested into Bitcoin (BTC) [1]
ZOOZ Shareholders Approve Previously Announced $180 Million Private Placement and Bitcoin Treasury Reserve Strategy, Along with All Related Proposals
Globenewswire· 2025-09-19 13:00
Core Viewpoint - ZOOZ Power Ltd. has received shareholder approval for a $180 million private placement and a Bitcoin Treasury Reserve Strategy, positioning itself as a pioneer in the dual-listed market on Nasdaq and TASE [1][4]. Group 1: Private Placement Details - The company plans to close the PIPE during the week of September 22, 2025, pending customary closing conditions and final documentation [1]. - The PIPE will involve the issuance of ordinary shares and warrants, including $5 million sold in the initial private placement [7]. Group 2: Bitcoin Treasury Reserve Strategy - Approximately 95% of the net proceeds from the PIPE will be allocated to purchase and hold Bitcoin, making ZOOZ the first dual-listed company to adopt such a strategy [3]. - This strategy is expected to evolve ZOOZ's treasury into a strategic asset that drives growth, stability, and differentiation in the market [4][5]. Group 3: Leadership and Advisory - Jordan Fried, CEO of ZOOZ, emphasized the seamless access for U.S. and Israeli investors to the company's Bitcoin treasury model [4]. - Chardan is acting as the sole placement agent, with Cooley LLP and Shibolet & Co. serving as legal advisors in the U.S. and Israel, respectively [5].
ZOOZ Power Ltd.(ZOOZ) - 2025 Q2 - Quarterly Report
2025-08-29 20:06
Financial Performance - Total revenues for the six months ended June 30, 2025, were $247 thousand, a decrease of 54.5% compared to $543 thousand for the same period in 2024[9] - Gross loss for the six months ended June 30, 2025, was $1,545 thousand, compared to a gross loss of $208 thousand in the same period of 2024[9] - Net loss for the six months ended June 30, 2025, was $7,045 thousand, an increase of 34.4% from a net loss of $5,237 thousand in the same period of 2024[9] - For the six months ending June 30, 2025, the company reported net losses of $7,045 thousand compared to $5,237 thousand for the same period in 2024, indicating a 34.5% increase in losses year-over-year[39] - The company experienced negative cash flows from operating activities amounting to $4,950 thousand for the six months ending June 30, 2025, compared to $6,040 thousand for the same period in 2024, reflecting a 17.9% improvement[39] Assets and Liabilities - Total current assets decreased to $4,442 thousand as of June 30, 2025, down 58.3% from $10,653 thousand as of December 31, 2024[7] - Total liabilities increased to $6,697 thousand as of June 30, 2025, compared to $6,119 thousand as of December 31, 2024, reflecting a rise of 9.5%[7] - Cash and cash equivalents decreased to $2,452 thousand as of June 30, 2025, down 67.5% from $7,532 thousand as of December 31, 2024[7] - The company recorded an inventory write-off of $1,227 thousand for the six months ended June 30, 2025, compared to $185 thousand for the same period in 2024, indicating a substantial increase in inventory losses[59] - The total contingent obligation as of June 30, 2025, amounts to $2.5 million, reflecting the company's commitments to pay royalties to governmental institutions[61] Financing and Capital Management - The company is seeking additional financing to continue operations, including research and development, with no assurance of success in obtaining necessary funds[42] - The company issued 39,508 ordinary shares under the SEPA agreement, raising $34 thousand, reflecting ongoing efforts to enhance capital[33] - The company entered into a sales agreement allowing for the issuance of ordinary shares with a potential gross sales price of up to $10,950,000[76] - On August 1, 2025, the company sold 106,200 ordinary shares for a net amount of $228,629 after transaction costs[77] - The company received gross proceeds of $5.0 million from an Initial Private Placement transaction, which will be used for repaying outstanding promissory notes and general corporate purposes[79] - The company agreed to sell 1,000,000 ordinary shares and warrants to acquire 5,000,000 ordinary shares at a purchase price of $2.00 per share in a private placement[78] Management and Corporate Governance - The company appointed Jordan Fried as the new CEO, with a compensation structure including a nominal salary and performance-based restricted stock units[88] - The Chairman RSUs constitute 2.5% of all outstanding Ordinary Shares, amounting to 837,963 shares[94] - The Chairman RSUs will vest over a 4-year period, with 25% vesting after 12 months and the remainder vesting monthly thereafter[95] - Keywise Discovery Master Fund has committed to invest $8 million in the Subsequent Private Placement for Ordinary Shares[96] - Mr. Fang Zheng holds approximately 2,369,550 Ordinary Shares, representing 19.5% of the issued and outstanding share capital[97] - The disclosed Ordinary Share ownership does not include 1,120,000 shares placed in escrow, which may be released upon achieving certain milestones[97] Strategic Initiatives - The company has initiated a company-wide cost reduction and restructuring initiative aimed at reducing operating costs[33] - In July 2025, the company adopted bitcoin as its primary treasury reserve asset, indicating a strategic shift in asset management[35] - The company finalized a merger deal with a SPAC on April 4, 2024, which included an investment of $10.875 million[40] - Approximately 15% of the company's employees have been called to reserve duty in the Israel Defense Forces as of July 15, 2025, but the company expects no material impact on business results in the short term[38] Accounting and Compliance - The fair value of the company's warrants liability increased from $331 thousand as of December 31, 2024, to $435 thousand as of June 30, 2025, reflecting changes in fair value[64] - The company adopted ASU 2023-08 effective January 1, 2025, which requires crypto assets to be measured at fair value, although it currently holds no digital assets[53] - The company recognized a total share-based payment expense of $59 thousand for the six months ended June 30, 2025, compared to $264 thousand for the same period in 2024, reflecting a decrease of approximately 77%[71] - The company had a promissory note balance of $2,231 thousand as of June 30, 2025, an increase from $2,151 thousand as of December 31, 2024[72] - As of June 30, 2025, the company had 880,617 outstanding options with a weighted average exercise price of $6.06 and a remaining contractual life of 7.09 years[68]
ZOOZ Completes Initial Private Placement Raising $5M at a Purchase Price of $2 Per Share and Warrants as Part of a Previously Announced $180M Private Placement Transaction
Globenewswire· 2025-08-06 12:00
Core Viewpoint - ZOOZ Power Ltd. is taking significant steps to become the first dual-listed company on Nasdaq and TASE to adopt Bitcoin as a treasury asset, with a focus on enhancing long-term shareholder value through a strategic Bitcoin reserve [1][4]. Group 1: Private Placement Details - The company closed an initial private placement transaction amounting to $5 million, part of a larger $180 million private placement with accredited institutional investors [1][2]. - The initial private placement consists of approximately 2.5 million ordinary shares and pre-funded warrants at a purchase price of $2.00 per share, with each share or warrant issued alongside a warrant to purchase two ordinary shares at an exercise price of $3.06 [2]. Group 2: Use of Proceeds - ZOOZ plans to allocate approximately 95% of the net proceeds from the private placement towards launching its Bitcoin treasury strategy after repaying outstanding promissory notes, with the remainder for general corporate purposes [1][3]. Group 3: Management's Perspective - The CEO of ZOOZ expressed satisfaction with the successful closure of the initial private placement, highlighting it as a crucial first step in executing the new Bitcoin reserve strategy and demonstrating investor confidence in the company's vision [3].