ZOOZ Shareholders Approve Previously Announced $180 Million Private Placement and Bitcoin Treasury Reserve Strategy, Along with All Related Proposals
Approval positions ZOOZ to become the first Nasdaq and TASE dual-listed company to hold Bitcoin in its treasury
TEL AVIV, Israel, Sept. 21, 2025 -- 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 $180 million private placement (the “PIPE”) and Bitcoin Treasury Reserve Strategy.
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 95% of the net proceeds (after repayment of outstanding promissory notes) to purchase and hold Bitcoin on its balance sheet, becoming the first dual-listed Nasdaq and TASE company to formally adopt a Bitcoin treasury reserve strategy.
“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
