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The latest announcement is out from Agrify ( (AGFY) ).
Agrify Corporation has announced a $25.9 million non-brokered private placement with institutional and accredited investors, priced at $22.30 per share. The funding is set to bolster Agrify’s operations in the cannabis and hemp industries, with plans to use the capital for working capital and business development. CEO Benjamin Kovler also participated in the placement, purchasing shares at a higher price due to Nasdaq rules, reflecting strong insider confidence. The deal is expected to close on November 21, 2024, and highlights Agrify’s strategic focus amidst promising market trends.
For a thorough assessment of AGFY stock, go to TipRanks’ Stock Analysis page.
