AgriFORCE Growing Systems Shares Double on New Blockchain Strategy
By Chris Wack
AgriFORCE Growing Systems shares more than doubled, to $5.56, after the company said it will rename as AVAX One and plans to raise $550 million, for a dedicated strategy to maximize ownership of AVAX, the native token of the Avalanche network.
According to the company, Avalanche is a high-speed, institutional-grade blockchain designed to be a foundational digital settlement layer for the future of finance.
Avalanche technology allows companies to launch their own custom, compliant blockchains for the tokenization of real-world assets. The network is secured by $6.2 billion in staked assets.
The company said its capital-raising strategy is to own more than $700 million worth of AVAX tokens. The capital-raise strategy will be constituted of a successfully raised $300 million PIPE, subject to shareholder approval, and will involve near-future capital raising activities to raise up to an additional $250 million, that are expected to be focused on equity-linked instruments.
The company's strategic advisory board will be led by Anthony Scaramucci, founder of SkyBridge Capital, and Brett Tejpaul, head of Coinbase Institutional.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 22, 2025 13:33 ET (17:33 GMT)
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