AgriFORCE Growing Systems (AGRI) is rebranding as AVAX One and launching a $550 million capital raise to become the first Nasdaq-listed company focused on acquiring avalanche (AVAX), the native token of the Avalanche blockchain, the company said in a press release Monday.

Anthony Scaramucci, founder of investment firm Skybridge Capital, and a long-term advocate of digital assets, is joining as the head of the firm's advisory board.

Shares of AgriFORCE were trading 132% higher following the announcement. AVAX was lower by 3% over the past 24 hours.

The company said it aims to accumulate more than $700 million worth of AVAX, giving public investors a professionally managed vehicle to gain exposure to the network, which secures $6.2 billion in staked assets and has been used by firms like

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