---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-082917"
form_type: "8-K"
ticker: "FRMM"
cik: "0001690080"
company_name: "FORUM MARKETS Inc"
filed_at: "2025-09-02T23:59:59+00:00"
generated_at: "2026-05-17T08:53:52.103937+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# ETHZilla to deploy $100M in ETH to EtherFi for liquid restaking; holds 102,246 ETH (~$456M)

## Summary
- Plans to deploy ~$100M of ETH to EtherFi, a liquid restaking protocol, to generate higher yields on treasury holdings.
- Total ETH & equivalents held: 102,246 (avg cost $3,948.72), valued at ~$456M as of Aug 31, 2025.
- U.S. dollar cash equivalents: ~$221M; shares outstanding: 166,626,845 as of Sept 1, 2025.
- Cancelled 1,318,000 shares held by Elray Resources per settlement agreement for aggregate $1M.
- ATM shares issued during week ending Aug 31: 2.4M shares, net proceeds $7.3M.

## SEC filing metadata
- accession: 0001213900-25-082917
- form_type: 8-K
- ticker: FRMM
- cik: 0001690080
- company_name: FORUM MARKETS Inc
- filed_at: 2025-09-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1690080/000121390025082917/0001213900-25-082917-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1690080/000121390025082917/ea0255415-8k_ethzilla.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-082917
- JSON: https://secwatch.observer/filing/0001213900-25-082917.json
- Plain text: https://secwatch.observer/filing/0001213900-25-082917.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.