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Shareholders of publicly traded company ZOOZ Power approved a fundraising of $180 million to establish a Bitcoin treasury.
Odaily News ZOOZ Power, a dual-listed company on the Nasdaq and Tel Aviv Stock Exchange, announced that its shareholders approved the previously announced $180 million fundraising at a special shareholders' meeting to establish a Bitcoin treasury. The company plans to use approximately 95% of the net proceeds from the fundraising (after repaying outstanding promissory notes) to purchase and hold Bitcoin, making it the first company to be dual-listed on both the Nasdaq and Tel Aviv Stock Exchange and officially adopt a Bitcoin treasury reserve strategy. (Globenewswire)