Flora Growth Corp. (FLGC) announced a $401 million financing round through a private investment in public equity (PIPE), with $22.88 million contributed by strategic investor DeFi Development Corp. The company plans to rebrand as ZeroStak upon completion of the transaction.
The offering includes $366 million in digital assets and $35 million in cash commitments. Investors are purchasing common shares at $25.19 per share, with $0G tokens valued at $3.00 each. The $0G cryptocurrency, native to the 0G decentralized AI infrastructure project, will serve as the company’s primary reserve asset.
DeFi Dev Corp. is leading the round alongside Hexton Capital and Carlsberg SE Asia Pte Ltd. Additional participants include DAO5, Abstract Ventures, Dispersion Capital, Blockchain Builders Fund, and SALT.
The deal is expected to close around September 26, 2025, subject to customary conditions. Flora Growth intends to use the proceeds to acquire additional $0G tokens.
As part of the restructuring, Flora Growth will appoint Michael Heinrich, co-founder of 0G, as CEO and Daniel Reis-Faria as COO. The company will retain its ticker symbol FLGC after the rebrand.
Joseph Onorati, CEO of DeFi Development Corp., stated: “We are excited to partner with FLGC in this capital raise and look forward to driving deeper collaboration between 0G and Solana.”
Currently, Flora Growth operates as a global pharmaceutical distributor through its subsidiary, Fatybo GmbH. The company describes its treasury strategy as providing institutional investors with equity-based exposure to AI infrastructure development.
The private placement is being conducted under Regulation D exemption and is available only to accredited investors, according to the company’s statement.
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