ZOOZ Power Completes $5 Million Series A Private Placement, Implements Bitcoin Reserve Strategy
According to Foresight News, NLNico has revealed that ZOOZ Power (NASDAQ / Tel Aviv Stock Exchange: ZOOZ) announced on August 6 the completion of its first round of private placement financing, raising $5 million at an issue price of $2 per share. This financing marks the initial phase of the company’s previously announced $180 million private placement plan targeting institutional investors. Upon receiving shareholder approval, approximately 95% of the proceeds from the private placement will be used to implement a Bitcoin reserve strategy.
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