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Flora Growth raises $401 million to launch the 0G treasury strategy.
On September 20, Nasdaq-listed Flora Growth Corp. (stock code: FLGC) today announced the pricing of its private investment in public equity (PIPE) issuance. The company will implement the 0G treasury strategy. Flora Growth has secured $401 million in financing, which includes over $366 million in physical digital assets and $35 million in cash and equivalent commitments, and has signed a PIPE transaction agreement to purchase and sell the company's common stock at a subscription price of $25.19 per share. This also includes physical contributions and part of the physical loan priced at $3.00 per 0G Token. After the transaction is completed, the company is expected to be renamed ZeroStack while retaining the stock code "FLGC". This financing is led by Solana financial strategic listed company DeFi Dev Corp., with participation from Hexstone Capital, Carlsberg SE Asia PTE Ltd (CSAPL), Dao5, Abstract Ventures, Dispersion Capital, Blockchain Builders Fund, and Salt.