AgriFORCE Growing Systems Ltd (NASDAQ:AGRI) stock jumped 183% in premarket trading Monday after the company announced it will rebrand as AVAX One and launch a roughly $550 million fundraising initiative to invest in Avalanche’s native token.
The company aims to become the first NASDAQ-listed entity with a dedicated strategy to maximize AVAX token holdings, creating a publicly traded vehicle for investors seeking direct exposure to blockchain infrastructure. AgriFORCE plans to acquire over $700 million worth of AVAX tokens through its capital-raising efforts.
“The architecture of financial markets is changing, and programmable blockchains like Avalanche are the new foundation,” said Jolie Kahn, Chief Executive Officer of the company. “For the first time, our company provides public market investors with a professionally-managed vehicle to invest directly in this transformation.”
The fundraising will include an approximately $300 million PIPE (Private Investment in Public Equity) transaction, subject to shareholder approval, followed by additional capital raising of up to $250 million through equity-linked instruments.
Matt Zhang, Founder of Hivemind Capital and nominated Chairman of the Board, described the vision as building the “Berkshire Hathaway of the onchain financial economy.” Hivemind Capital is leading the effort, with participation from more than 50 institutional and crypto-native investors, including ParaFi, Galaxy Digital, and Digital Currency Group.
The company’s strategic advisory board will be led by Anthony Scaramucci, Founder of SkyBridge Capital, and Brett Tejpaul, Head of Coinbase Institutional, along with other finance industry leaders yet to be announced.
Avalanche is a high-speed blockchain designed for financial applications, currently secured by $6.2 billion in staked assets and utilized by major institutions such as KKR, Apollo, and J.P. Morgan Chase.
AgriFORCE Growing Systems stock price
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.