AgriFORCE Growing Systems Ltd., soon to be renamed AVAX One, is setting a new precedent in the financial world by establishing itself as the first NASDAQ-listed company dedicated to maximizing ownership of AVAX, the native token of the Avalanche blockchain. This transformative initiative plans to raise around $550 million to become a significant player in the evolving onchain finance ecosystem.
Avalanche’s cutting-edge blockchain is attracting major financial institutions, including KKR, Apollo, and J.P. Morgan Chase, to build custom blockchains for asset tokenization. This high-speed, secure network boasts $6.2 billion in staked assets, highlighting its robust architecture. The strategic aim of AVAX One is to provide investors with direct exposure to this foundational technology, enhancing shareholder value as the new financial landscape unfolds.
Leadership at AVAX One is spearheaded by industry veterans and advised by influential figures from SkyBridge Capital and Coinbase. Matt Zhang, Founder of Hivemind Capital and nominated Chairman of the Board, likened the company’s growth strategy to creating the “Berkshire Hathaway of the onchain financial economy,” highlighting the need for scalable blockchain infrastructure in financial markets.
The $550 million capital raise for AVAX One includes a $300 million private investment in public equity (PIPE), with the ambition to accumulate $700 million in AVAX tokens. This strategic move is supported by a panel of over 50 institutional and crypto-native investors, including ParaFi, Galaxy Digital, and Digital Currency Group.
Anthony Scaramucci of SkyBridge Capital emphasized the significance of asset tokenization over the next decade, recognizing Avalanche as the optimal platform for this financial evolution. With the support of industry leaders, AVAX One is poised to establish a robust gateway for public investors interested in the growing onchain economy.
The legal and financial facets are being managed by Cohen & Company Capital Markets as the exclusive financial advisor, alongside legal counsel from Lowenstein Sandler LLP and Morgan, Lewis & Bockius LLP.
As AVAX One emerges on the NASDAQ, it signifies a pivotal shift in blockchain-based financial strategies. The transition also marks a continuation of AgriFORCE’s existing business, focusing on digital infrastructure and clean power through its TerraHash Digital™ division. This innovative journey reflects a broader trend towards integrating blockchain technology within mainstream financial markets, promising new opportunities for investors.