The company Flora Growth, which is listed on Nasdaq, has launched a treasury initiative of 401 million dollars to support Zero Gravity (0G), a blockchain project focused on boosting decentralized artificial intelligence infrastructure.
The operation is carried out through a private placement that combines 35 million dollars in cash with 366 million dollars in digital assets in kind, primarily denominated in 0G tokens. As part of the transaction, Flora will change its name to ZeroStack, maintaining its Nasdaq symbol, FLGC, according to a Friday announcement.
The treasury company of Solana, DeFi Development Corp. (DFDV), led the agreement, along with Hexstone Capital and Carlsberg SE Asia PTE Ltd, with the participation of companies such as Dao5, Abstract Ventures, and Dispersion Capital.
"We are excited to collaborate with FLGC on this fundraising and look forward to fostering a close collaboration between 0g and Solana," said Joseph Onorati, CEO of DFDV. Flora will also retain a portion of its treasury in SOL tokens.