180 Life Sciences Secures $425 Million to Build ETH Treasury
Main Idea
180 Life Sciences Corp. is shifting its focus to cryptocurrency by raising $425 million to build an Ethereum treasury and rebrand as ETHzilla.
Key Points
1. 180 Life Sciences Corp. (Nasdaq: ATNF) raised $425 million through a private investment in public equity (PIPE) to fund an Ethereum-focused treasury strategy.
2. The PIPE was priced at $2.65 per share and included participation from over 60 investors, including Electric Capital, Polychain Capital, GSR, and Ethereum ecosystem leaders.
3. Proceeds will primarily be used to acquire ETH, positioning it as the outperform standard, and will involve ETH staking, lending, and liquidity strategies.
4. The company plans to rebrand as ETHzilla, with ETH serving as the backbone of its balance sheet.
Description
180 Life Sciences is pivoting to crypto with a $425 million private placement to build an ether treasury and rebrand as ETHzilla. ETHzilla Incoming: 180 Life Sciences Goes All-In on Ethereum With $425 Million Funding 180 Life Sciences Corp. (Nasdaq: ATNF) has announced a major strategic pivot, raising $425 million through a PIPE (private investment
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