ZOOZ Shareholders Approve Previously Announced $180 Million Private Placement and Bitcoin Treasury Reserve Strategy, Along with All Related Proposals
Rhea-AI Summary
ZOOZ Power (Nasdaq/TASE: ZOOZ) announced that shareholders have approved all proposals related to its $180 million private placement (PIPE) and Bitcoin Treasury Reserve Strategy at an Extraordinary General Meeting. The company expects to close the PIPE during the week of September 22, 2025.
The approved proposals include the issuance of ordinary shares and warrants, increase in authorized share capital, and election of new board members. Notably, ZOOZ plans to allocate approximately 95% of the net proceeds to purchase and hold Bitcoin, positioning itself to become the first dual-listed Nasdaq and TASE company to implement a Bitcoin treasury reserve strategy.
Positive
- Secured substantial $180 million private placement funding
- Will become first Nasdaq/TASE dual-listed company with Bitcoin treasury strategy
- 95% of net proceeds allocated to Bitcoin holdings, showing strong commitment to crypto strategy
- Strengthened board with addition of two new directors
Negative
- Significant concentration risk with 95% of proceeds allocated to volatile Bitcoin
- Substantial shareholder dilution from new share issuance
- Departure from traditional treasury management practices may increase risk profile
News Market Reaction 20 Alerts
On the day this news was published, ZOOZ gained 7.30%, reflecting a notable positive market reaction. Argus tracked a peak move of +232.2% during that session. Argus tracked a trough of -16.7% from its starting point during tracking. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $30M at that time. Trading volume was exceptionally heavy at 71.4x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Approval positions ZOOZ to become the first Nasdaq and TASE dual-listed company to hold Bitcoin in its treasury
TEL AVIV, Israel, Sept. 19, 2025 (GLOBE NEWSWIRE) -- ZOOZ Power Ltd. (Nasdaq and TASE: ZOOZ) (“ZOOZ” or the “Company”) today announced that at its Extraordinary General Meeting, shareholders voted to approve all proposals related to the Company’s previously announced
Following this approval, ZOOZ expects to close the PIPE during the week of September 22, 2025, subject to customary closing conditions and final documentation.
Key Proposals Approved
- Issuance of Ordinary Shares and Warrants in connection with the
$180 million PIPE, including$5 million sold in the initial private placement - Amendment to the Company’s Articles of Association to increase the authorized share capital
- Election of Alberto Franco and Jonas Grossman to the Company’s Board of Directors upon the Closing Date
- Nasdaq Approval necessary to implement the transaction and ensure continued compliance with Nasdaq and TASE listing requirements
Bitcoin Treasury Reserve Strategy
Proceeds from the PIPE will primarily be used to launch ZOOZ’s Bitcoin Treasury Reserve Strategy. The Company intends to allocate approximately
“As ZOOZ solidifies its position as a dual-listed Bitcoin treasury pioneer, U.S. and Israeli investors will now have seamless access to our model,” said Jordan Fried, Chief Executive Officer of ZOOZ. “With shareholder approval secured, we are poised to leverage every resource available to a dual-listed entity to scale our Bitcoin holdings.” Our treasury is evolving into a strategic asset, one that will drive growth, stability, and differentiation while signaling to crypto-native and innovation-focused stakeholders that ZOOZ is at the forefront.
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
Upon the closing of the PIPE, ZOOZ will be the first Nasdaq and TASE dual-listed company implementing a long-term strategic Bitcoin treasury. This innovative approach is expected to position ZOOZ as a pioneer and a forward-thinking capital allocator. Shareholders are expected to benefit from long-term, asymmetric upside through direct exposure to Bitcoin. 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) of the PIPE, the anticipated use of proceeds from the PIPE 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
FAQ
How much is ZOOZ Power's private placement worth and when will it close?
What percentage of ZOOZ's PIPE proceeds will be used to buy Bitcoin?
Who are the new board members joining ZOOZ Power?
Why is ZOOZ Power's Bitcoin strategy significant?
Who are the key advisors for ZOOZ Power's private placement?
