Public Flora raises US$401 million through PIPE
Source: PANews
Time: 2025-09-20 10:45:11
PANews September 20th news, according to Business Insider, Flora Growth Corp. (NASDAQ: FLGC) announced that it has received $401 million in financing through a PIPE transaction, including strategic investments from Defi Development Corp. with $22.88 million and 0G tokens. The release is led by DeFi Dev Corp. (the first DAT to accumulate and compound SOL), Hexstone Capital and Carlsberg SE Asia PTE Ltd (CSAPL), along with many other companies including Dao5, Abstract ventures, Dispersion Capital, Blockchain Builders Fund and Salt.
The company is expected to rename ZeroStack and retain the stock code of “FLGC” and appoint 0G co-founder Michael Heinrich as executive chairman and Daniel Reis-Faria as CEO. The company will use 0G as its main reserve asset and hold some SOL.