Flora Growth raises $401 million to launch 0G treasury strategy

According to BlockBeats, on September 20, Nasdaq listed company Flora Growth Corp. (stock code: FLGC) today announced the pricing of private equity investment (PIPE) in its publicly listed companies, and the company will implement the 0G treasury strategy. After the transaction is completed, the company is expected to change its name to ZeroStack and retain the stock code of "FLGC". The issuance was led by Solana's financial strategic listed company DeFi Dev Corp., with participation from Hexstone Capital, Carlsberg SE Asia PTE Ltd (CSAPL), as well as Dao5, Abstract Ventures, Dispersion Capital, Blockchain Builders Fund and Salt. Flora Growth has received $401 million in financing, including more than $366 million in physical digital assets and $35 million in cash and equivalent commitments, and has entered into a PIPE transaction agreement to purchase and sell the company's common stock (including pre-subscription warrants) at a subscription price of $25.19 per share. Among them, physical investment and some physical loans denominated at US$3.00 per 0G token are also included in the transaction.