180 Life, a publicly listed company, plans to raise approximately $425 million in a private placement and transform itself into an Ethereum treasury reserve company.

PANews reported on July 29th that 180 Life Sciences Corp. (NASDAQ: ATNF), a US-listed company, announced its transformation into an Ethereum Treasury Reserve company, intending to raise approximately $425 million through private equity financing. Upon completion of the transaction, the company plans to change its name to ETHZilla Corporation. Private equity investors include Harbour Island, Electric Capital, Polychain Capital, GSR, and Omicron Technologies. Following the transaction, Electric Capital will serve as the company's external asset manager and implement a differentiated on-chain yield generation program. This program aims to go beyond traditional ETH staking while maintaining robust risk management and incorporates staking, lending, liquidity provisioning, and customized private agreements.