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An update from Agrify ( (AGFY) ) is now available.
Agrify Corporation announced the sale of its cultivation business to CP Acquisitions, LLC, affiliated with former CEO Raymond Chang. This strategic move aims to simplify Agrify’s business model and allow the company to focus on high-growth areas like hemp-derived THC beverages, particularly its Señorita brand. The transaction involved CP acquiring assets related to Agrify’s Vertical Farming Units and the assumption of related liabilities, including the termination of $7 million in convertible notes held by CP.
More about Agrify
Agrify Corporation is a developer of branded innovative solutions for the cannabis and hemp industries. Its Señorita brand offers consumers hemp-derived THC beverages that mirror well-known cocktails like margaritas in two flavors, classic and mango. The company is known for its commitment to high-quality, natural ingredients, providing low-sugar, low-calorie alternatives to alcoholic beverages available in nine U.S. states and Canada.
YTD Price Performance: -4.93%
Average Trading Volume: 582,006
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $46.9M
Find detailed analytics on AGFY stock on TipRanks’ Stock Analysis page.
