On August 4, 2025, 180 Life Sciences Corp. announced the closing of its previously announced private placement, raising $425 million in gross proceeds. This financing was conducted through a private investment in public equity (PIPE) transaction.
The proceeds from the PIPE will be primarily allocated to rapidly increase the company's Ether (ETH) holdings, pay transaction expenses, provide cash bonuses to management and directors, support legacy iGaming operations, and monetize biotech intellectual property.
In conjunction with the closing, McAndrew Rudisill was appointed Chairman of the Board of Directors, with Crystal Heter and Andrew Suckling joining as Independent Directors. Electric Capital will serve as the external asset manager for the company's differentiated yield generation program.
The company intends to begin purchasing Ethereum and deploy a large percentage of the $425 million throughout the coming weeks. This successful capital raise is a critical step in advancing its new ETH treasury strategy and planned rebranding to ETHZilla Corporation.
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