Zooz Power Ltd. To Become Publicly Traded On Nasdaq Through Proposed Business Combination With Keyarch Acquisition Corporation
Portfolio Pulse from Happy Mohamed
ZOOZ Power Ltd. and Keyarch Acquisition Corporation have announced a business combination agreement, which will result in ZOOZ becoming publicly listed on Nasdaq under the symbol 'ZOOZ'. The transaction values ZOOZ at up to $100 million and is expected to provide a minimum of $10 million in net proceeds. The closing is expected to occur in Q4 2023, subject to shareholder and regulatory approvals. ZOOZ is a leading provider of flywheel-based power boosting solutions for the EV charging infrastructure market.
July 31, 2023 | 12:17 pm
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Keyarch Acquisition Corporation is entering a business combination with ZOOZ Power Ltd., which will result in ZOOZ becoming publicly listed on Nasdaq. The deal is expected to close in Q4 2023.
The business combination with ZOOZ Power Ltd. is a significant event for Keyarch Acquisition Corporation. It will likely increase the company's market exposure and potentially its stock price, given ZOOZ's innovative technology in the EV charging infrastructure market.
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