AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) witnessed a surge in its stock price after announcing its rebranding to AVAX One and a $550 million capital raise plan. On Monday, September 22, 2025, the company's shares soared, with intraday increases reaching nearly 220%. The strategic shift aims to position AVAX One as the first NASDAQ-listed company focused on maximizing ownership of AVAX tokens, the native cryptocurrency of the Avalanche blockchain network.
The company intends to accumulate over $700 million worth of AVAX tokens through its capital raising strategy. This includes an approximately $300 million private investment in public equity (PIPE), contingent upon shareholder approval, and an additional $250 million through equity-linked fundraising. The capital raise is being led by Hivemind Capital, with participation from over 50 institutional and crypto-native investors, including ParaFi, Galaxy Digital, Kraken, and Digital Currency Group.
AgriFORCE's decision to rebrand and focus on AVAX is driven by the growing interest in blockchain technology and decentralized finance. Avalanche is described as a high-speed blockchain designed for financial applications, currently securing $6.2 billion in staked assets. Firms like KKR, Apollo, and J.P. Morgan Chase are reportedly using the network for tokenization of real-world assets.
The strategic advisory board for AVAX One will be led by prominent figures in the finance and crypto industries, including Anthony Scaramucci, founder of SkyBridge Capital, and Brett Tejpaul, head of Coinbase Institutional. Matt Zhang, founder of Hivemind Capital and nominated chairman of the board, envisions AVAX One as the "Berkshire Hathaway of the onchain financial economy".
According to Jolie Kahn, Chief Executive Officer of AgriFORCE, this move provides public market investors with a professionally managed vehicle to invest directly in the transformation of financial markets through blockchain technology.
Despite the positive market reaction, some analysts urge caution due to AgriFORCE's status as a micro-cap penny stock with a history of struggling with its agri-tech and Bitcoin mining ventures. InvestingPro data indicates that the company faces financial challenges, including a weak financial health score, a concerning current ratio, and a high debt-to-equity ratio.
In addition to the rebranding and capital raise, AgriFORCE's Board of Directors previously approved a 1-for-9 reverse stock split to comply with Nasdaq's minimum bid price requirement. The company has also entered into a non-binding Memorandum of Understanding to acquire a minority stake in an international regulated payments services provider.
