ZOOZ Power Enters Standby Equity Purchase Agreement to Further Growth Strategy
ZOOZ Power Ltd. - Ordinary Shares (ZOOZ)
Company Research
Source: GlobeNewswire
Tel Aviv, Israel, Nov. 14, 2024 (GLOBE NEWSWIRE) -- ZOOZ Power Ltd. (NASDAQ and TASE: ZOOZ) (“ZOOZ”), the leading provider of Flywheel-based power boosting and power management solutions enabling ultra-fast multi-port Electronic Vehicle (“EV”) charging, today announced that it has entered into a Standby Equity Purchase Agreement (“SEPA”) with YA II PN, Ltd. (“Yorkville”), an investment fund managed by Yorkville Advisors Global, LP. This agreement aligns with ZOOZ’s ongoing efforts to expedite growth and provides a flexible financing option to support future capital needs. Under the terms of the SEPA, and subject to customary conditions, ZOOZ has the option, at its sole discretion, to sell and issue up to $12 million in ZOOZ ordinary shares, par value NIS 0.00286 per share (the “Ordinary Shares”) to Yorkville over a two-year period. Ordinary Shares sold to Yorkville under the SEPA will be priced at 97% of the Market Price (as defined in the SEPA) during a specified three-day prici
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ZOOZ
News
- ZOOZ Power Ltd. (NASDAQ: ZOOZ) is now covered by analysts at Benchmark Co.. They set a "buy" rating and a $5.00 price target on the stock.MarketBeat
- ZOOZ Power Ltd. (NASDAQ: ZOOZ) was upgraded by analysts at Maxim Group to a "strong-buy" rating.MarketBeat
- ZOOZ Power Ltd. to Present at the LD Micro Main Event XVII on Wednesday, October 30, 2024GlobeNewswire
ZOOZ
Sec Filings
- 11/14/24 - Form 6-K
- 11/14/24 - Form SC
- 10/30/24 - Form 6-K
- ZOOZ's page on the SEC website