Nasdaq-Listed Zeta Network Raises $231M via Bitcoin-Backed Private Placement

Group 1 - Zeta Network Group has initiated a $231 million private placement funded in Bitcoin or SolvBTC, aimed at improving its balance sheet and adding a yield-bearing Bitcoin instrument to its treasury amid volatile crypto markets [1][4] - The transaction aligns with a corporate trend of integrating Bitcoin into balance sheets through structured vehicles, following the digital asset treasury strategy pioneered by MicroStrategy [2][3] - The private placement serves as both a financing mechanism and a tool for digital asset treasury management, allowing Zeta to access fresh capital more efficiently with reduced regulatory compliance overhead [3] Group 2 - The private placement involves the sale of Class A ordinary shares and accompanying warrants, priced at a combined $1.70 per unit, with each warrant exercisable at $2.55 per share [4] - The deal represents one of the largest public-market integrations for Solv Protocol's wrapped Bitcoin product, although it may limit participation to qualified investors and potentially dilute existing shareholders [5] - SolvBTC is fully backed by Bitcoin, stored with regulated custodians, and verified on-chain, which enhances trust from traditional finance as indicated by Solv Protocol's CEO [6]