Publicly listed company ZOOZ Power announces $180 million in private placement and launches Bitcoin treasury reserve strategy

PANews reported on July 29th that according to Globenewswire, energy management solutions provider ZOOZ Power Ltd. (Nasdaq and TASE: ZOOZ) announced today that it will conduct a $180 million private placement (PIPE) with qualified institutional investors to support its plan to launch a Bitcoin reserve strategy. The PIPE, which is subject to shareholder approval, is expected to sell 180 million shares of the company's common stock and prepaid warrants at $1 per share. Participants in the PIPE include strategic investors Pantera Capital, FalconX, Arrington Capital, UTXO Management, ATW Partners, and renowned Israeli investor Alex Rabinovitch.