ZOOZ Announces Private Placement of $180 Million to Launch a Bitcoin Treasury Reserve Strategy

Core Insights - ZOOZ Power Ltd. is set to become the first dual-listed company on Nasdaq and TASE to hold Bitcoin in its treasury, providing investors with exposure to digital assets [1][4] - The company has announced a $180 million private placement (PIPE) to fund its Bitcoin Reserve Strategy, with a share price of $1.00 per ordinary share [1][5] - Jordan Fried, a technology entrepreneur, will assume the role of CEO to lead the digital asset treasury strategy [2][3] Financial Strategy - The PIPE involves the sale of 180 million ordinary shares and pre-funded warrants, subject to shareholder approval, with strategic investors participating [1][5] - Approximately 95% of the net proceeds from the PIPE will be allocated to executing the Bitcoin treasury strategy, with the remainder for general corporate purposes [5][6] - An initial private placement is also planned, expected to raise $5 million by selling 2.5 million ordinary shares at $2.00 each [7] Leadership and Governance - Jordan Fried will begin his role as CEO on July 31, 2025, focusing on the digital asset strategy while the current CEO will continue overseeing the company's core energy solutions [2][3] - The Board of Directors has nominated additional members to support the company's strategic direction [3] Market Positioning - ZOOZ aims to leverage its dual-listed status to enhance its Bitcoin holdings and attract innovation-focused stakeholders [3][4] - The company believes that incorporating Bitcoin into its treasury will align it with a digital future and enhance long-term shareholder value [4] Historical Context - Bitcoin has shown an approximate 82% compound annual growth rate (CAGR) over the past decade, indicating its potential as a strategic asset [3]