AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) has announced a major strategic pivot, rebranding as AVAX One and launching a $550 million capital raise. This move positions it to become the first company on the Nasdaq exchange dedicated to accumulating Avalanche (AVAX), the native cryptocurrency of the Avalanche blockchain.
The rebranding has attracted significant industry talent. Anthony Scaramucci, the founder of SkyBridge Capital and a well-known digital asset proponent, has been appointed as the head of the new firm's advisory board.
The market reacted strongly to the news, with AgriFORCE shares skyrocketing by 132%. In contrast, the price of AVAX itself saw a slight decrease of 3% over the past 24 hours.
AVAX One's ambitious strategy involves building a treasury of over $700 million in AVAX tokens. This initiative is designed to provide public market investors with a professionally managed vehicle to gain exposure to the Avalanche network, which currently secures over $6.2 billion in staked assets and is utilized by major firms like JPMorgan and Apollo for tokenization projects.
Matt Zhang, Founder of Hivemind Capital and incoming Chairman of the board, described the vision for AVAX One as building the "Berkshire Hathaway of the onchain financial economy." The plan combines strategic token accumulation with targeted fintech acquisitions to drive long-term growth.
Anthony Scaramucci, who will serve on the advisory board alongside Brett Tejpaul, Head of Institutional at Coinbase, commented on the broader trend, stating that tokenization represents "the single biggest theme for the next decade of finance." He emphasized that AVAX One offers a unique public-market gateway for investors to participate in this seismic shift.
The capital raise includes a $300 million Private Investment in Public Equity (PIPE) transaction, subject to shareholder approval, and the potential for up to $250 million in additional equity-linked offerings. The raise has garnered support from a consortium of leading crypto investors, including ParaFi, Galaxy Digital, DCG, Kraken, and Cypher Capital, among others.
Through its TerraHash Digital division, AVAX One will continue to operate AgriFORCE's existing energy infrastructure business.