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ETHZilla has officially launched its new brand, with a total holding of 94,675 ETH.
BlockBeats News, August 18th, according to official sources, ETHZilla Company (NASDAQ: ETHZ) today announced the official launch of a new brand, marking a key step in the company's transition to an Ethereum strategic reserve. This company, formerly known as 180 Life Sciences Corp, will shift its main non-traditional business to build an Ethereum (ETH) reserve platform that is "community-owned and community-serving." Effective immediately, the company's common stock and public warrants will trade on Nasdaq under the new tickers "ETHZ" and "ETHZW," respectively, while the original tickers "ATNF" and "ATNFW" will be simultaneously discontinued, and shareholders do not need to take any action regarding this change.
Following the successful completion of a $425 million common stock and pre-funded warrant private investment in public equity (PIPE) and a $156.25 million convertible note issuance, the company has accumulated 94,675 ETH at an average purchase price of $3,902.20, currently valued at approximately $419 million. Additionally, ETHZilla also holds approximately $187 million in cash equivalents.
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