TechFlow, September 19 — According to GLOBE NEWSWIRE, ZOOZ Power Ltd. (Nasdaq and Tel Aviv Stock Exchange: ZOOZ) announced that shareholders approved all related proposals for the previously disclosed $180 million private investment in public equity (PIPE) and Bitcoin treasury reserve strategy at a special general meeting. The company expects to complete the PIPE transaction during the week of September 22.
Under the Bitcoin treasury reserve strategy, approximately 95% of the net proceeds from the PIPE financing will be used to purchase and hold Bitcoin. ZOOZ CEO Jordan Fried stated that following shareholder approval, the company will leverage all resources of its dual-listed entity to expand its Bitcoin holdings, as the treasury evolves into a strategic asset.
