AgriFORCE Growing Systems (AGRI) has announced a significant rebranding to AVAX One and is set to embark on a bold capital raise of $550 million aimed at becoming the first Nasdaq-listed company dedicated to acquiring the Avalanche (AVAX) cryptocurrency. The Avalanche blockchain’s native token, AVAX, is currently valued at $31.91, and the company’s plans were detailed in a press release issued on Monday.
A notable figure joining this initiative is Anthony Scaramucci, the founder of investment firm Skybridge Capital and a vocal proponent of digital assets, who will lead the advisory board. Following this announcement, shares of AgriFORCE surged by 132%, although AVAX saw a 3% decline over the past 24 hours.
AVAX One intends to amass over $700 million worth of AVAX, providing public investors with a professionally managed means to access the network, which currently secures $6.2 billion in staked assets. The Avalanche blockchain has attracted the attention of major financial firms like JPMorgan and Apollo, particularly for tokenization initiatives.
Matt Zhang, founder of Hivemind Capital and the new chair of the advisory board, emphasized the vision for AVAX One, stating the goal is to create the “Berkshire Hathaway of the onchain financial economy.” This strategy combines disciplined accumulation of tokens with strategic fintech acquisitions aimed at fostering growth.
Scaramucci, along with Coinbase’s institutional head Brett Tejpaul, is optimistic about the future, highlighting tokenization as “the single biggest theme for the next decade of finance.” He noted that AVAX One offers a public-market entry point for investors eager to participate in this transformative trend.
The capital raise comprises a $300 million private investment in public equity (PIPE), subject to shareholder approval, and up to an additional $250 million in equity-linked offerings. Notable investors participating in this capital raise include ParaFi, Galaxy Digital, Digital Currency Group (DCG), Kraken, and Cypher Capital, among others.
In addition to its new focus, AVAX One will maintain AgriFORCE’s existing energy infrastructure operations through its TerraHash Digital division, signaling a continued commitment to its foundational business while branching into the burgeoning cryptocurrency market.
