ZOOZ Power Enters Standby Equity Purchase Agreement to Further Growth Strategy

Core Viewpoint - ZOOZ Power Ltd. has entered into a Standby Equity Purchase Agreement (SEPA) with Yorkville Advisors, providing a flexible financing option to support its growth and capital needs [1][2]. Financing Agreement - Under the SEPA, ZOOZ can sell up to $12 million in ordinary shares to Yorkville over two years, with shares priced at 97% of the market price during a specified three-day pricing period [2]. - ZOOZ retains the right to set a minimum acceptable price for these share issuances, and there are limitations on the ownership percentage of shares by Yorkville and its affiliates [2][3]. - The SEPA is contingent upon the filing and effectiveness of a registration statement with the U.S. Securities and Exchange Commission [3]. Strategic Use of Funds - The company plans to utilize the SEPA strategically, allowing for capital raising as needed while maintaining control over timing and volume [4]. - This financing solution is expected to provide supplemental capital, enabling ZOOZ to manage equity sales effectively [5]. Company Overview - ZOOZ Power is a leader in Flywheel-based power boosting and management solutions, facilitating ultra-fast multi-port EV charging [6][7]. - The company's technology addresses grid limitations and enhances the deployment of fast-charging infrastructure, promoting efficiency and profitability growth [8].