AgriFORCE Growing Systems (AGRI) is rebranding as AVAX One and launching a $550 million capital raise to become the first Nasdaq-listed company focused on acquiring avalanche (AVAX), the native token of the Avalanche blockchain, the company said in a press release Monday.
Anthony Scaramucci, founder of investment firm Skybridge Capital, and a long-term advocate of digital assets, is joining the as head of the firm's advisory board.
Shares of AgriFORCE were trading 132% higher following the announcement. AVAX was lower by 3% over the past 24 hours.
The company said it aims to accumulate more than $700 million worth of AVAX, giving public investors a professionally managed vehicle to gain exposure to the network, which secures $6.2 billion in staked assets and has been used by firms like JPMorgan and Apollo for tokenization initiatives.
Hivemind Capital founder Matt Zhang, who will chair the board, said AVAX One’s plan is to build the “Berkshire Hathaway of the onchain financial economy,” combining disciplined token accumulation with fintech acquisitions to drive growth.
SkyBridge Capital’s Anthony Scaramucci, who joins the company’s advisory board alongside Coinbase institutional head Brett Tejpaul, said tokenization is “the single biggest theme for the next decade of finance” and that AVAX One offers a public-market on-ramp to participate in that shift.
The raise includes a $300 million PIPE, pending shareholder approval, and up to $250 million in additional equity-linked offerings, with participation from investors including ParaFi, Galaxy Digital, DCG, Kraken and Cypher Capital.
Big Brain Holdings, FalconX, Republic Digital, Borderless Capital, Summer Capital, GSR Ventures, Fintech Collective, Bastion Trading, CMCC Global Titan Fund, Hypersphere, Fifth Lane Capital, and HashKey Capital also participated in the raise.
AVAX One will also continue to operate AgriFORCE’s existing energy infrastructure business through its TerraHash Digital division.
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