Agrify Corp is a technology and agriculture company specializing in the cannabis industry
They focus on providing advanced cultivation solutions that integrate hardware and software to enhance the efficiency and productivity of indoor farming operations. By utilizing precision growing techniques and data analytics, Agrify's products aim to optimize plant growth, yield, and quality while ensuring compliance with regulatory standards. The company supports cannabis producers with a range of services, including climate control systems, lighting solutions, and growth tracking software, ultimately helping them achieve sustainable and profitable farming practices.
Agrify Corporation (NASDAQAGFY) announced on Thursday a $25.9 million non-brokered private placement.The company said it has entered into securities purchase agreements with institutional and accredited investors in a non-brokered private placement priced at $22.30 per share.The placement is set to close on Thursday, Nov. 21, subject to customary closing conditions.
Agrify shares are trading lower by 35% Thursday morning. The company announced it secured approximately $25.9 million through a non-brokered private placement.
Agrify Corporation (NASDAQAGFY), a company that provides hardware and software cultivation and extraction solutions for the cannabis and hemp industry, announced on Tuesday that its board of directors has approved a $20 million convertible secured note. Of that sum $10 million will be drawn upon at closing, from a wholly-owned subsidiary of Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF), Agrify said in a press release. Before this, the Green Thumb subsidiary acquired an ownership stake in Agrify through the purchase of common stock and warrants from its outgoing chairman and CEO Raymond Chang and outgoing director I-Tseng Jenny Chan.
In late July, nearly three months after New York Governor Kathy Hochul fired Chris Alexander, the former head of the state's Office of Cannabis Management (OCM), following an internal review, a series of high-level departures made headlines.Connecticut Social Equity Council (SEC), which manages social equity activity for the state's recreational marijuana market, got a new executive director earlier this month. Brandon McGee, who previously worked on Gov. Ned Lamont's reelection in 2022, replaced Ginne-Rae Clay, reported Marijuana Business Daily citing CT Insider.Canopy Growth Corporation and Curaleaf Holdings, Inc. announced CEO shake-ups.
