ZOOZ Power to start trading on Nasdaq with new ticker symbols By Investing.com
Summary
With this merger finalized, ZOOZ Power will be dual-listed, trading on both the Nasdaq and the Tel-Aviv Stock Exchange starting April 5, 2024.The companys ordinary shares and public warrants will trade on Nasdaq under the ticker symbols "ZOOZ" and "ZOOZW," respectively. The business combination includes a $13 million private investment in public equity (PIPE) from accredited investors, which was completed alongside the merger.Cohen expressed optimism about the merger, highlighting its importance for ZOOZs growth and its positioning in the ultra-fast EV charging market. Zheng also conveyed enthusiasm for the companys future growth in the EV charging industry.ZOOZ Power has developed proprietary flywheel technology for energy storage, which addresses the limitations of the existing electricity grid and supports the deployment of EV ultra-fast charging infrastructure.The companys technology offers a sustainable and economical solution compared to traditional chemical battery-based systems, boasting a longer lifecycle with hundreds of thousands of charge-discharge cycles.The legal and financial advisors for both companies were disclosed, with various firms supporting the merger process. Additional details regarding the business combination will be included in a Form 8-K report to be filed by Keyarch with the Securities and Exchange Commission.This announcement is based on a press release statement and reflects the latest milestone in ZOOZ Powers efforts to enhance the EV charging infrastructure and support the wider adoption of electric vehicles globally.As ZOOZ Power Ltd. embarks on a new chapter following its merger and dual-listing on the Nasdaq and Tel-Aviv Stock Exchange, investors may want to consider several key financial metrics and InvestingPro Tips. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.This article was generated with the support of AI and reviewed by an editor.