AgriFORCE Rising Methods (AGRI) is rebranding as AVAX One and launching a $550 million capital increase to develop into the primary Nasdaq-listed firm centered on buying avalanche , the native token of the Avalanche blockchain, the corporate mentioned in a press launch Monday.
Anthony Scaramucci, founding father of funding agency Skybridge Capital, and a long-term advocate of digital belongings, is becoming a member of as the pinnacle of the agency’s advisory board.
Shares of AgriFORCE have been buying and selling 132% greater following the announcement. AVAX was decrease by 3% over the previous 24 hours.
The corporate mentioned it goals to build up greater than $700 million value of AVAX, giving public traders a professionally managed car to achieve publicity to the community, which secures $6.2 billion in staked belongings and has been utilized by corporations like JPMorgan and Apollo for tokenization initiatives.
Hivemind Capital founder Matt Zhang, who will chair the board, mentioned AVAX One’s plan is to construct the “Berkshire Hathaway of the onchain monetary economic system,” combining disciplined token accumulation with fintech acquisitions to drive progress.
SkyBridge Capital’s Anthony Scaramucci, who joins the corporate’s advisory board alongside Coinbase institutional head Brett Tejpaul, mentioned tokenization is “the one largest theme for the subsequent decade of finance” and that AVAX One provides a public-market on-ramp to take part in that shift.
The increase features a $300 million PIPE, pending shareholder approval, and as much as $250 million in further equity-linked choices, with participation from traders together with ParaFi, Galaxy Digital, DCG, Kraken and Cypher Capital.
Huge Mind Holdings, FalconX, Republic Digital, Borderless Capital, Summer season Capital, GSR Ventures, Fintech Collective, Bastion Buying and selling, CMCC International Titan Fund, Hypersphere, Fifth Lane Capital, and HashKey Capital additionally participated within the increase.
AVAX One will even proceed to function AgriFORCE’s present vitality infrastructure enterprise via its TerraHash Digital division.
Learn extra: Try to Purchase Semler Scientific in First Merger of Bitcoin Treasury Corporations