On July 29, 2025, 180 Life Sciences Corp. announced plans to adopt a treasury policy under which Ether (ETH) will be the principal holding in its treasury reserve. This marks a significant strategic pivot for the company.
The company entered into an approximately $425 million private investment in public equity (PIPE) transaction for the purchase and sale of common stock and pre-funded warrants at $2.65 per share. The PIPE transaction is expected to close around August 1, 2025.
Following the closing, the company intends to rebrand to ETHZilla Corporation. The net proceeds from the offering are primarily designated for the purchase of ETH, as well as general corporate purposes and transaction expenses.
Electric Capital is expected to serve as the external asset manager, implementing a differentiated, on-chain yield generation program. This program aims to outperform traditional ETH staking through a combination of staking, lending, liquidity provisioning, and bespoke private agreements.
The company also has approval to sell up to $150 million in debt securities, with an offering expected after the PIPE closing. This substantial capital raise and strategic reorientation aim to position the company as an institutional vehicle for Ether accumulation and yield generation.
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