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 in public equity). This is to fund an ethereum-focused treasury strategy and rebrand as ETHzilla Corporation.
The PIPE, priced at $2.65 per share, includes participation from more than 60 investors, among them Electric Capital, Polychain Capital, GSR, and Ethereum ecosystem leaders such as Robert Leshner (Compound), Tarun Chitra (Gauntlet), and Konstantin Lomashuk (Lido).
Proceeds will be primarily used to acquire ETH, positioning ETH as the company’s principal treasury reserve asset. Electric Capital will act as the external asset manager, introducing a yield-generation program that aims to outperform standard ETH staking by combining staking, lending, liquidity provisioning, and private agreements.
With ETH serving as the backbone of its balance sheet, 180 Life Sciences is signaling one of the boldest corporate treasury shifts to date, aligning itself with a growing trend of public companies integrating digital assets into their financial strategy.
Source: Bitcoin
