Overview

• The securities purchase agreement covers approximately $230.8 million through Class A shares sold with one-for-one warrants at a combined $1.70 per unit.
• Each warrant is exercisable at $2.55 per Class A share under the private placement structure.
• Closing is expected on October 16, 2025, subject to customary conditions, with proceeds delivered in BTC or SolvBTC rather than U.S. dollars.
• Zeta describes SolvBTC as a 1:1 Bitcoin-collateralized, yield-generating token with regulated custody and on-chain reserve verification.
• The company frames the move as a disciplined, counter-cyclical step toward a Bitcoin-focused institutional finance platform, as ZNB shares swung sharply on the news and were down about 6% late morning.