AVAX, the native token of the Avalanche blockchain, surged Wednesday after Avalanche Treasury Co., established to support the Avalanche ecosystem, announced its initial public offering (IPO) and major token purchase plan. Avalanche Treasury Co. (AVAT) announced the signing of a joint venture agreement and merger with Nasdaq-listed Mountain Lake Acquisition Corp. (MLAC) valued at over $675 million, according to an official statement. The combined company is expected to trade on Nasdaq under the ticker symbol “AVAT” in the first quarter of 2026, subject to regulatory and shareholder approval. Emin Gün Sirer, founder and CEO of Ava Labs, will join the company as an advisor, making it the second treasury firm focused on Avalanche. Avalanche Treasury Co. plans to acquire AVAX for $1 billion as part of its AVAX treasury strategy and will acquire AVAX with an initial $460 million in funds. The company will go public with the newly concluded $675 million merger agreement and will begin trading on Nasdaq under the symbol “AVAT” in 2026. According to the statement, the merged company, which will trade under the ticker symbol AVAT, has entered into a priority agreement with the Avalanche Foundation for discounted AVAX sales. Accordingly, AVAT will acquire AVAX at a discount for $200 million with 18-month priority rights and aims to hold over $1 billion worth of AVAX after the IPO. *This is not investment advice. Continue Reading: The First Step Has Been Taken Towards the $1 Billion Target for the Altcoin Closely Followed by Turks! This Date Has Been Marked!
