ZOOZ Power Completes $5 Million in First Round of Private Funding and Plans to Advance Bitcoin Treasury Strategy

ZOOZ Power (Nasdaq/Tel Aviv Stock Exchange: ZOOZ) announced the completion of its first round of private financing of $5 million at a price of $2 per share. This financing represents the first phase of the company's previously announced $180 million private placement from institutional investors. Subject to shareholder approval, approximately 95% of the proceeds will be used to implement its Bitcoin reserve strategy. This move makes ZOOZ the first Nasdaq- and Tel Aviv-listed company to use Bitcoin as its reserve asset.