Zooz Power completes initial private placement raising $%M

ZOOZ Power (ZOOZ) announced the closing of the initial private placement transaction in the amount of $5 millionas part of a larger $180 million private placement with accredited institutional investors, announced on July 29, 2025. ZOOZ intends to use a portion of the net proceeds from the Initial Private Placement to repay a portion of its outstanding promissory notes and the remainder for general corporate purposes. Pending shareholder approval and the closing of the subsequent part of the Private Placement, ZOOZ intends to allocate approximately 95% of the net proceeds from the Private Placement toward launching its Bitcoin treasury strategy, following the repayment of its outstanding promissory notes. The remaining proceeds will be used for general corporate purposes. The Initial Private Placement is comprised of approximately 2.5 million of its ordinary shares and pre-funded warrants at a purchase price of $2.00 per share (or pre-funded warrant). Each ordinary share or pre-funded warrant was issued together with a warrant to purchase two ordinary shares at an exercise price of $3.06 per share.