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ZOOZ Power is electrifying markets with shareholder approval to channel nearly all fresh capital into a bold bitcoin treasury strategy, signaling aggressive conviction in digital assets.
ZOOZ Power Gains Shareholder Approval for Bitcoin Treasury Reserve
ZOOZ Power Ltd. (Nasdaq and TASE: ZOOZ), a dual-listed company that develops ultrafast power boosters for electric vehicle charging infrastructure, announced on Sept. 19 that shareholders approved all measures tied to its $180 million private investment in public equity (PIPE) and bitcoin treasury reserve initiative.
The company plans to close the PIPE during the week of Sept. 22, subject to customary conditions and documentation. Management highlighted the primary use of proceeds:
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,” ZOOZ added.
Chief executive officer Jordan Fried opined:
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.
“With shareholder approval secured, we are poised to leverage every resource available to a dual-listed entity to scale our bitcoin holdings,” the executive emphasized.
Many companies are adopting a bitcoin treasury strategy to protect against inflation, diversify holdings, and strengthen their market positioning. Strategy (Nasdaq: MSTR) is a leading example, consistently integrating BTC into its corporate balance sheet as a long-term reserve asset. This strategy signals confidence in digital assets as a hedge against fiat currency risks. Beyond corporations, some countries are also exploring bitcoin-based strategies, considering its potential role in national reserves. Despite volatility and regulatory hurdles, this trend reflects BTC’s growing global importance.