SkyBridge founder Anthony Scaramucci | DAS 2025 New York by Mike Lawrence for Blockworks
AgriFORCE Growing Systems Ltd. (Nasdaq: AGRI) said on Monday, that it will rebrand as AVAX One and pursue a $550 million capital raise, positioning itself as the first NASDAQ-listed company dedicated to Avalanche, the blockchain designed for institutional-grade onchain finance.
The move would make AVAX One a public vehicle for exposure to Avalanche’s native token, AVAX, with the aim of accumulating more than $700 million worth of holdings.
The company, advised by Anthony Scaramucci of SkyBridge Capital and Brett Tejpaul of Coinbase Institutional, said its near-term focus will be disciplined AVAX accumulation, with longer-term plans to acquire fintech firms and migrate them onto Avalanche.
CEO Jolie Kahn framed the effort as a chance for public investors to participate directly in the growth of blockchain settlement layers. Matt Zhang, founder of Hivemind Capital and nominated chairman, described the model as a “Berkshire Hathaway of the onchain economy.”
The $550 million plan includes a $300 million private investment in public equity (PIPE), subject to shareholder approval, alongside up to $250 million in additional equity-linked financing. The PIPE will be offered under exemptions from the Securities Act of 1933 and is expected to be registered for resale with the Securities and Exchange Commission.
More than 50 institutions including Galaxy Digital, Kraken, ParaFi and Digital Currency Group are participating, according to the announcement.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
