Agriforce growing systems (Agri) is rebranding as Avax One and launching a $ 550 million capital increase to become the first company listed in NASDAQ dedicated to obtaining avalanche Avalanche Blockchain’s native token, the company said in a Press release Monday.
Anthony Scaramucci, founder of the investment firm Skybridge Capital, and a long -term advocate of digital assets, joined as head of the company’s advisory board.
Agriforce shares trade 132% higher following the announcement. AVAX is less than 3% in the past 24 hours.
The company aims to accumulate more than $ 700 million worth of AVAX, which provides public investors of a professional managed vehicle to obtain a network exposure, gaining $ 6.2 billion in staked assets and used by companies such as JPMorgan and Apollo for tokenization initiatives.
Hivemind’s capital founder Matt Zhang, who leads the board, said Avax’s plan was the development of “Berkshire Hathaway of the Onchain Financial Economy,” combining the discipline token accumulating in FinTech acquisitions to drive.
The Anthony Scaramucci of the Skybridge Capital, who joined the company’s advisory board next to Coinbase Institutional head Brett Tejpaul, said the tokenization was “the single biggest theme for the next decade of finance” and that Avax offers a public market in the ramp to participate in that transfer.
The increase of a $ 300 million pipe, pending shareholder approval, and up to $ 250 million in additional equity-related 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 participate in the increase.
AVAX ONE will also continue to operate the existing agriforce energy infrastructure business through its terrahash digital division.
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