Agrify Corporation Announces $2.6 Million Pricing of Public Offering
Agrify Corporation (Nasdaq: AGFY), a pioneering force in providing innovative cultivation and extraction solutions for the burgeoning cannabis industry, revealed today the successful pricing of its public offering of 6,723,684 shares of common stock (or pre-funded warrants in lieu thereof) at a public offering price of $0.38 per share. The announcement, made on February 28th, marks a significant milestone for the company and underscores its commitment to advancing within the rapidly evolving cannabis market.
The public offering is anticipated to generate gross proceeds totaling approximately $2.6 million, before the deduction of placement agent fees and other associated offering expenses. Agrify Corporation intends to utilize the net proceeds from this offering to bolster its working capital and support various general corporate endeavors, including potential capital expenditures and debt repayment.
Alexander Capital L.P. assumes the pivotal role of sole placement agent for the offering, leveraging its expertise and network to facilitate a seamless transaction. Burns & Levinson LLP provided legal counsel to Agrify Corporation throughout the offering process. Lucosky Brookman LLP has served as counsel to the placement agent, contributing to the meticulous execution of this pivotal initiative.