James Richardson
ZOOZ Power shares skyrocketed on Friday after the company’s shareholders approved its ambitious $180 million private placement and new bitcoin treasury reserve strategy.
On Thursday, Nasdaq-listed ZOOZ closed at $2.33. By Friday’s pre-market session, shares had surged 262% to $8.44 before retracing. The stock is now trading around $3.84, still up more than 65% compared to the previous day’s close, according to TradingView data.
The Tel Aviv-based company revealed that 95% of net proceeds from the capital raise — after paying down outstanding promissory notes — will be allocated to build a bitcoin treasury. At current BTC prices, this would give ZOOZ roughly 1,470 BTC, placing it among the top 50 public bitcoin treasury holders, based on Bitcoin Treasuries data.
Industry leader MicroStrategy remains dominant on that list, now holding 638,985 BTC following its latest purchase earlier this week.
First Dual-Listed Bitcoin Holder in the U.S. and Israel
With this move, ZOOZ would become the first publicly listed company in both the U.S. and Israel to officially hold bitcoin on its balance sheet.
The $180 million PIPE deal (private investment in public equity) was first announced in July. It attracted high-profile backers, including Pantera Capital, FalconX, and Arrington Capital. To drive its crypto-focused strategy, ZOOZ appointed Jordan Fried, an early Hedera Hashgraph investor, as its new CEO.
CEO: Bitcoin Strategy as a Growth Engine
“As ZOOZ cements its role as a dual-listed bitcoin treasury pioneer, investors in both the U.S. and Israel will gain seamless exposure to our model,” Fried said in Friday’s announcement. “With shareholder approval secured, we can now fully leverage our dual-listed structure to scale bitcoin holdings. Our treasury is evolving into a long-term strategic asset that will fuel growth, enhance stability, and highlight ZOOZ as a leader in innovation.”
Next Steps for ZOOZ
The company expects to close the $180M offering next week, pending customary approvals and final documentation. Once completed, ZOOZ will be firmly positioned as one of the newest corporate players in the bitcoin treasury space.
