{"id":870522,"date":"2025-08-04T22:33:13","date_gmt":"2025-08-05T02:33:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/180-life-sciences-closes-425-million-private-placement-to-advance-its-ethereum-treasury-strategy\/"},"modified":"2025-08-04T22:33:13","modified_gmt":"2025-08-05T02:33:13","slug":"180-life-sciences-closes-425-million-private-placement-to-advance-its-ethereum-treasury-strategy","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/180-life-sciences-closes-425-million-private-placement-to-advance-its-ethereum-treasury-strategy\/","title":{"rendered":"180 Life Sciences Closes $425 Million Private Placement to Advance its Ethereum Treasury Strategy"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n Company intends to use the net proceeds from this financing primarily to rapidly increase its ETH<\/span> holdings<\/i>\n <\/p>\n

\n Company plans to execute a differentiated yield generation program, with Company built for the Ethereum<\/span> community, by the Ethereum<\/span> community<\/i>\n <\/p>\n

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\n PALO ALTO, Calif.<\/span>
\n <\/span>, Aug. 4, 2025<\/span><\/span> \/PRNewswire\/ — 180 Life Sciences Corp. (Nasdaq: ATNF), (the “Company” or “ETHZilla”), has closed its previously announced private placement, raising $425 million<\/span> in gross proceeds, before placement agent fees and offering expenses (the “Private Placement”) through a private investment in public equity transaction (“PIPE”) for the purchase and sale of common stock and pre-funded warrants, as applicable, at a purchase price of $2.65<\/span> per share.<\/p>\n

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\n \"180
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The Company has officially launched its ETH<\/span> treasury strategy with a plan to allocate gross proceeds of the Private Placement for the purchase of ETH<\/span>, the payment of transaction expenses, the payment of certain cash bonuses and other considerations to certain members of management and the Board of Directors of the Company (for director services rendered), to support the Company’s legacy iGaming operations, and the plan to monetize the Company’s biotech intellectual property assets, and for other general corporate purposes. The Company has also appointed McAndrew Rudisill<\/span> as Chairman of the Board of Directors (the “Board”), and Crystal Heter<\/span> and Andrew Suckling<\/span> as Independent Directors.<\/p>\n

The Private Placement was led by Electric Capital and Harbour Island, with participation from institutional and crypto<\/span> native investors including, but not limited to: Borderless Capital, Polychain Capital, GSR, Omicron Technologies, Konstantin Lomashuk (Co-Founder Lido and p2p.org), Sreeram Kannan<\/span> (Founder, Eigenlayer), Mike Silagadze<\/span> (Founder, Ether.fi), Danny Ryan<\/span> (Co-Founder, Etherealize), Vivek Raman<\/span> (Co-Founder, Etherealize), Sam Kazemanian (Co-Founder, Frax), Grant Hummer<\/span> (Co-Founder of Etherealize), Robert Leshner<\/span> (Founder, Compound and Superstate), Tarun Chitra<\/span> (Founder, Gauntlet), and several other prominent Ethereum<\/span> ecosystem founders and leaders.\u00a0<\/p>\n

“The team we are assembling is an accomplished group of well-regarded veterans across decentralized<\/span> finance (DeFi<\/span>) and traditional finance,” said McAndrew Rudisill<\/span>, Chairman of the Board of Directors of the Company. “Our collaboration with some of the builders and pioneers of the Ethereum<\/span> ecosystem is expected to help us shape the future of the Ethereum<\/span> network. This is only the beginning, and we look forward to executing our differentiated strategy to create value for new and existing shareholders.”<\/p>\n

“We’re thrilled to collaborate with the Company’s industry leading team to pioneer new avenues for Ethereum<\/span> investment,” said Vivek Raman<\/span>, CEO of Etherealize and expected strategic advisor to the Company. “Together, we aim to unlock Ethereum<\/span>‘s potential for a broader investor base through innovative tools and access to the public markets.”<\/p>\n

“The response following our initial announcement has been incredibly encouraging,” said Blair Jordan<\/span>, CEO of the Company. “We’re off to a strong start and remain focused long-term value for our shareholders.”<\/p>\n

The Company intends to begin purchasing Ethereum<\/span> and deploy a large percentage of the $425 million<\/span> throughout the coming weeks in addition to continuing its prior legacy iGaming operations, as well as continuing to seek to monetize its biotechnology intellectual property. The Company plans to provide investors with regular updates on its Ethereum<\/span> holdings to ensure maximum transparency.<\/p>\n

The Company may further sell an aggregate amount of up to $150 million<\/span> in fixed income securities following the recently completed PIPE. The consummation of any subsequent offering is subject to the satisfaction and completion of definitive documentation.<\/p>\n

Electric Capital will serve as the external asset manager for the Company, and plans to implement a differentiated, on-chain yield generation program. This program will be designed with the goal of outperforming traditional ETH<\/span> staking, while maintaining robust risk management, seeking to leverage a combination of staking, lending, liquidity provisioning and bespoke private agreements.<\/p>\n

\n Governance Updates<\/b>\n <\/p>\n

The Company also plans to maintain and continue its legacy core business operations, including in biotech and iGaming, and will be led by Blair Jordan<\/span> as CEO. Additionally:<\/p>\n