180 Life Sciences Corp. (NASDAQ: ATNF) — Investor Newswire

Date: August 12, 2025
Publisher: SmallCap Network (SCN)

ATNF surges as company discloses large ETH reserves and fresh financing

180 Life Sciences Corp., doing business as ETHZilla, disclosed holdings of 82,186 Ether (ETH) acquired at an average price of $3,806.71, valued at approximately $349 million, alongside roughly $238 million in USD cash equivalents. Management framed the position as the foundation for an “institutional ETH accumulation strategy,” with external asset manager Electric Capital engaged to drive on-chain yield. PR Newswire180 Life Sciences Corp.

The update followed the company’s announcement yesterday of a $156 million private offering of convertible notes, with proceeds intended “primarily to rapidly increase” ETH holdings—building on a previously announced, upsized ~$425 million PIPE that closed earlier this month. 180 Life Sciences Corp.+1

Market reaction: ATNF shares spiked sharply in pre-market and early trading on Tuesday as traders digested the new treasury details and financing trajectory. Several outlets flagged the move, linking it to the ETH disclosure and funding news. BenzingaRTTNewsAInvest

Why it matters

Treasury pivot: The company’s rebranding as ETHZilla and accumulation of ETH reframes ATNF as a crypto-treasury and yield-strategy vehicle rather than a traditional biotech, a shift that may broaden (or change) its investor base. PR Newswire

Balance-sheet scale: The combined ETH and cash balances, if sustained, provide significant optionality for on-chain yield strategies and corporate operations. PR Newswire

Financing runway: The $156M notes and prior PIPE provide capital aligned to the ETH strategy; execution and risk controls will be scrutinized closely. 180 Life Sciences Corp.+1

What to watch next

Risk management & custody: Details on custody arrangements, hedging, and governance for digital-asset reserves. PR Newswire

Yield program specifics: Timing and structure of on-chain yield efforts via Electric Capital, plus transparency on returns and counterparty risk. 180 Life Sciences Corp.

Regulatory & listing considerations: Any implications from evolving Nasdaq rules on micro-caps and issuers undergoing strategic pivots. Reutersklgates.com

Note: Digital-asset prices are volatile; balance-sheet values will fluctuate with ETH/USD. Investors should review the company’s SEC filings and risk factors before making decisions.

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