ZOOZ Power completes $5 million first round private placement and implements Bitcoin reserve strategy

Foresight News reported that according to NLNico, ZOOZ Power (NASDAQ/Tel Aviv Stock Exchange: ZOOZ) announced on August 6th that it has completed its first round of $5 million in private equity financing, with an issue price of $2 per share. This financing is the first phase of the company's previously announced $180 million institutional investor private placement plan. After obtaining shareholder approval, approximately 95% of the private equity proceeds will be used to implement the Bitcoin reserve strategy.