ZOOZ Announces Private Placement of $180 Million to Launch a Bitcoin Treasury Reserve Strategy
Rhea-AI Summary
ZOOZ Power Ltd. (Nasdaq/TASE: ZOOZ) has announced a significant strategic pivot, launching a $180 million private placement (PIPE) to implement a Bitcoin Treasury Reserve Strategy. The company will become the first Nasdaq and TASE dual-listed company to hold Bitcoin in its treasury.
The PIPE involves selling 180 million ordinary shares at $1.00 per share to institutional investors including Pantera Capital, FalconX, and Arrington Capital. Additionally, ZOOZ announced a separate $5 million initial private placement at $2.00 per share with accompanying warrants.
The company is undergoing major leadership changes, with Jordan Fried, former Hedera Hashgraph founding member, becoming CEO on July 31, 2025. The board will also welcome new directors including Todd Thomson, former Citigroup CFO, and other notable executives. ZOOZ plans to use 95% of the net proceeds for its Bitcoin treasury strategy after repaying $3 million in promissory notes.
Positive
- Securing $180 million in PIPE financing from prominent institutional investors
- Strategic pivot to Bitcoin treasury with 95% of proceeds allocated to digital assets
- Bitcoin's historical performance of 82% CAGR over the past decade
- Strengthened leadership team with experienced executives from finance and technology sectors
- Additional $5 million private placement with warrant coverage
Negative
- Significant dilution to existing shareholders through 180 million new shares
- High concentration risk with 95% of proceeds allocated to a single volatile asset
- Departure from core business focus and operational strategy
- Subject to shareholder approval and regulatory risks
News Market Reaction – ZOOZ
On the day this news was published, ZOOZ declined 45.58%, reflecting a significant negative market reaction. Argus tracked a peak move of +46.2% during that session. Argus tracked a trough of -52.9% from its starting point during tracking. Our momentum scanner triggered 73 alerts that day, indicating high trading interest and price volatility. This price movement removed approximately $36M from the company's valuation, bringing the market cap to $42M at that time. Trading volume was exceptionally heavy at 5.2x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
ZOOZ to become the first Nasdaq and TASE dual-listed company to hold Bitcoin in its treasury
The Board of Directors of the Company has approved the new strategy, which provides investors with exposure to Bitcoin
Jordan Fried to become CEO to lead the first Israeli digital asset treasury strategy
Largest offering by a Non-US Listed Company to launch a digital asset treasury strategy
TEL AVIV, Israel, July 29, 2025 (GLOBE NEWSWIRE) -- ZOOZ Power Ltd. (Nasdaq and TASE: ZOOZ) (“ZOOZ” or the “Company”) today announced a
In connection with its approval of the PIPE, the Company’s Board of Directors approved the employment of Jordan Fried, a serial technology entrepreneur and investor, who is expected to assume the role of Chief Executive Officer and Director of the Company on July 31st, and to immediately begin implementing the Company’s digital asset treasury strategy. Mr. Fried was a founding‑team member of Hedera Hashgraph (HBAR), where he led global go‑to‑market initiatives and strategic investments. The Company’s current Chief Executive Officer, Erez Zimerman, will continue to lead ZOOZ Power’s flywheel-based advanced solutions, overseeing power booster and energy management systems globally.
Also expected to join the Company’s Board of Directors on July 31 are:
- Todd Thomson, former CFO of Citigroup and CEO of Citigroup’s Global Wealth Management and Alternative Asset divisions and
- Samer Haj-Yehia, former Executive Chairman of Bank Leumi.
In addition, the Company’s Board of Directors nominated the following as directors at the Company’s upcoming annual shareholders’ meeting:
- John Christodoro, who has served on boards that include PayPal, Ebay, Xerox, Cheniere Energy, Herbalife, Lyft and Hologix; and
- Jonas Grossman, Co-Founder and President of Chardan.
“As ZOOZ evolves into a dual-listed Bitcoin treasury pioneer, U.S. and Israeli-based investors gain seamless access to our model,” said Jordan Fried, incoming Chief Executive Officer of ZOOZ. “The company intends to leverage every resource available to a dual-listed entity to scale its Bitcoin holdings, while signaling crypto-native and innovation-focused stakeholders that we are forward-thinking. We see our treasury evolving into a strategic asset that drives growth, stability, and differentiation.” Bitcoin has delivered approximately
“This pivot in ZOOZ’s business strategy is a significant milestone for the Company,” said Avi Cohen, Executive Chairman of ZOOZ. “ZOOZ is the first Nasdaq and TASE dual-listed company to hold Bitcoin in its treasury. We are positioning ourselves at the forefront of financial innovation while strengthening our financial resilience. As global financial infrastructure evolves, we believe in the transformative potential of digital assets as a growth opportunity. Incorporating Bitcoin into our treasury better aligns us with a digital future, and we believe that it will significantly enhance long-term shareholder value.”
The closing of the PIPE is subject to a shareholder vote, expected to be held on or around September 8, 2025, to approve the terms of the PIPE, an amendment to the Company’s articles of association to increase the number of its authorized shares, the election of two directors and various other items.
The PIPE is expected to close shortly following the receipt of shareholders’ approval. ZOOZ expects to receive aggregate gross proceeds of
ZOOZ also announced today an initial private placement with certain institutional accredited investors that is expected to close on July 31, 2025. This private placement is expected to involve the sale of 2.5 million of the Company’s ordinary shares (and pre-funded warrants) at a purchase price of
The offer and sale of the securities to be sold in the PIPE and the initial private placement, including the ordinary shares underlying the warrants and pre-funded warrants, are being made in transactions not involving a public offering, and the securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any applicable state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and such applicable state securities laws. Concurrently with the execution of the securities purchase agreements related to the PIPE and the initial private placement, ZOOZ and the investors entered into registration rights agreements, pursuant to which the Company agreed to file certain resale registration statements with the Securities and Exchange Commission (the “SEC”) to register the resale of the ordinary shares purchased (whether directly or through exercise of warrants) by the investors in the PIPE and the initial private placement.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Advisors
Chardan is acting as sole placement agent to ZOOZ
Cooley LLP is acting as U.S. legal advisor to ZOOZ
Shibolet & Co. is acting as Israeli legal advisor to ZOOZ
Goodwin Procter LLP is acting as U.S. legal advisor to Chardan
Sullivan & Worcester LLP is acting as Israeli legal advisor to Chardan
MS-IR LLC is acting as U.S. Investor Relations Advisor
PwC Israel are the Independent Auditors of ZOOZ
About ZOOZ
ZOOZ Power is a leading provider of flywheel-based power boosting and energy management solutions, accelerating the deployment of ultra-fast electric vehicle (EV) charging infrastructure by overcoming existing grid limitations. In parallel with its core energy technology business, upon the closing the Private Placement, ZOOZ will be the first Nasdaq and TASE dual-listed company implementing a long-term strategic Bitcoin treasury. This innovative approach positions ZOOZ as both a pioneer in sustainable, high-performance EV charging and a forward-thinking capital allocator. Shareholders are expected to benefit from long-term, asymmetric upside through direct exposure to Bitcoin, widely regarded as digital gold, while ZOOZ’s core flywheel technology continues to drive growth, efficiency, and environmental sustainability across global charging networks. ZOOZ is publicly traded on Nasdaq and TASE under the ticker ZOOZ.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements of historical facts are “forward-looking statements. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will” and variations of these words or similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements in this press release include statements regarding the timing, size and completion (including the ability to meet the required closing conditions such as the ability to get shareholder approval) of each of the PIPE and the initial private placement, the anticipated use of proceeds from each of the PIPE and the initial private placement and the implementation of the Company’s Bitcoin treasury strategy and the potential value to shareholders. These forward-looking statements are based on ZOOZ’s expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties that could cause ZOOZ’s future results or performance to differ materially from those expressed or implied by the forward-looking statements. Many factors may cause differences between current expectations and actual results, including: the impacts of macroeconomic conditions, heightened inflation and uncertain credit and financial markets, on ZOOZ’s business and financial position; changes in expected or existing competition; changes in the regulatory environment; unexpected litigation or other disputes; risks related to the new Bitcoin treasury program; the risk that ZOOZ's stock price may be highly correlated to the price of the Bitcoin that it holds; risks relating to significant legal, commercial, regulatory, and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purpose; general market, political, and economic conditions in the countries in which ZOOZ operates, including Israel; and the effect of the evolving nature of the recent war in Israel. Other factors that may cause ZOOZ’s actual results to differ from those expressed or implied in the forward-looking statements in this press release are identified under the heading “Risk Factors” in ZOOZ’s annual report on Form 20-F filed with the SEC on March 7, 2025, and in other filings that ZOOZ makes and will make with the SEC in the future. ZOOZ expressly disclaims any obligation to update any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.
Investor Contact:
Miri Segal – CEO
MS-IR LLC
msegal@ms-ir.com
Media enquiries:
1 Source: Bitcoin Charts & Data, July 29, 2025 - CaseBitcoin.com
FAQ
What is ZOOZ's new Bitcoin Treasury Reserve Strategy?
Who is Jordan Fried and what is his role at ZOOZ (ZOOZ)?
How much money did ZOOZ raise in its private placement?
What institutional investors participated in ZOOZ's PIPE financing?
When will ZOOZ shareholders vote on the Bitcoin strategy?
How will ZOOZ's existing business operations be affected?
