ZeroStack Secures $107M Crypto Financing, Gains 21% of 0G Token Supply
ZeroStack raised $107 million via 142.2 million 0G tokens contributed to Texas Blocker Corp in exchange for 9.1 million shares at $11.79 each, securing a 21% stake in the 0G ecosystem pending July closing. It also extinguished a 0G Token convertible note and plans to redomicile from Ontario to Texas.
1. Financing Transaction Details
ZeroStack entered definitive agreements for a $107 million private cryptocurrency financing by contributing 142,232,948 0G tokens to Texas Blocker Corp in exchange for 9,104,614 Texas Blocker Shares, priced at $11.7931 per share. Upon shareholder approvals expected by July 5, Texas Blocker will merge into ZeroStack, granting ZeroStack a 21% position in the 0G token ecosystem.
2. Debt Elimination
Concurrently with the financing, ZeroStack and Texas Blocker executed a note settlement agreement extinguishing the 0G Token–denominated convertible note held by Zero Gravity Labs Inc. This action renders ZeroStack debt-free, simplifying its capital structure and strengthening its balance sheet.
3. Redomicile Plan
ZeroStack plans to change its jurisdiction of incorporation from Ontario to the State of Texas, subject to shareholder approval at both ZeroStack and Texas Blocker. The redomicile aims to align regulatory and operational frameworks with a jurisdiction supportive of digital assets and innovation.
4. Strategic AI Asset Management
The transaction positions ZeroStack as a leading public vehicle for AI-native exposure, combining significant token ownership with potential staking rewards. Management believes this strategic alignment with decentralized AI infrastructure will drive long-term growth and offer Nasdaq-listed investors direct exposure to blockchain-enabled AI development.