ZOOZ Power Ltd. (NASDAQ:ZOOZ, TASE: ZOOZ)) shares traded higher on Friday after it approved a Bitcoin treasury reserve. This makes it the first dual-listed company on Nasdaq and the Tel Aviv Stock Exchange to pursue this strategy.
The approval came at the company's extraordinary general meeting, where shareholders backed proposals tied to the financing, board changes, and amendments to its charter. ZOOZ expects to close the deal the week of Sept. 22, 2025, pending final documentation and customary conditions.
The company plans to allocate about 95% of the net proceeds, after paying off notes, toward purchasing Bitcoin for its balance sheet. ZOOZ said the move positions it as a digital asset pioneer and signals its intent to attract innovation-focused and crypto-native investors.
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Shareholders also approved the election of Alberto Franco and Jonas Grossman to the board and authorized increases in share capital to maintain compliance with Nasdaq and TASE requirements.
According to CEO Jordan Fried, the treasury is a growth driver.
With shareholder approval secured, ZOOZ is “poised to leverage every resource available” to a dual-listed entity, he added.
The announcement follows ZOOZ's July disclosure that it had arranged a $180 million private placement to support its Bitcoin reserve. At the time, the company said the financing would provide the foundation for transforming its treasury management model.
ZOOZ Follows Strategy, Coinbase
ZOOZ joins a small but growing group of companies integrating cryptocurrency into corporate reserves. Similar moves by Strategy, formerly known as MicroStrategy Inc. (NASDAQ:MSTR), and Coinbase Global Inc. (NASDAQ:COIN) have drawn investor attention. Related funds include the ProShares Bitcoin Strategy ETF (NYSE:BITO) and the Invesco QQQ Trust (NASDAQ:QQQ).
Price Action: ZOOZ shares are trading 34.48% higher at $3.13 at the last check on Friday.
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