{"id":750515,"date":"2023-04-24T16:33:26","date_gmt":"2023-04-24T20:33:26","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/agrify-corporation-announces-termination-of-warrant-inducement-transaction\/"},"modified":"2023-04-24T16:33:26","modified_gmt":"2023-04-24T20:33:26","slug":"agrify-corporation-announces-termination-of-warrant-inducement-transaction","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/agrify-corporation-announces-termination-of-warrant-inducement-transaction\/","title":{"rendered":"Agrify Corporation Announces Termination of Warrant Inducement Transaction"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">BILLERICA, Mass., April  24, 2023  (GLOBE NEWSWIRE) &#8212; Agrify Corporation\u00a0(Nasdaq: AGFY) (\u201cAgrify\u201d or the \u201cCompany\u201d), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced that it will not consummate the warrant inducement transaction that Agrify had previously announced on April 19, 2023, which, if completed, would have resulted in gross proceeds of up to $1.84 million and the issuance of approximately 21.3 million new warrants to exercising warrant holders.\u00a0\u00a0<\/p>\n<p>Agrify determined that the transaction would not be in the best interests of its stockholders due, in part, to limitations on Agrify\u2019s ability to use its shelf registration statement. The reduction in the exercise price of warrants issued in Agrify\u2019s December 2022 public offering to $0.1725 per share will remain effective in accordance with the terms of the warrants. Agrify intends to explore alternative options for raising capital.<\/p>\n<p>\n        <strong>About<\/strong>\u00a0<strong>Agrify<\/strong>\u00a0<strong>(Nasdaq: AGFY)<\/strong><\/p>\n<p>Agrify\u00a0is a leading provider of innovative cultivation and extraction solutions for the cannabis industry, bringing data, science, and technology to the forefront of the market. Our proprietary micro-environment-controlled Vertical Farming Units (VFUs) enable cultivators to produce the highest quality products with unmatched consistency, yield, and ROI at scale. Our comprehensive extraction product line, which includes hydrocarbon, ethanol, solventless, post-processing, and lab equipment, empowers producers to maximize the quantity and quality of extract required for premium concentrates. For more information, please visit\u00a0Agrify\u00a0at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=UBrEY9cXka0PxO8EPlwzjU1p4VkPZ5SHwLW9IlcwahGcuPPw51zFrs1WTF2ZM0THTj4Ty-wdNVEX62LIGBLOzuaoJi0gqbIUbXRwQUU2LaecqjYIlruv65Nf4rACRr_GkKythUS03pGrm_eDyfHZjm1szoZIM0qMpYpls0Fqsxk4WAE75W2vhiRjDDSZJFy52Bkv4VPQKEY44UH3B72JKzd6jTVr1eyy4AQnufbdl4xeqa6sY0J0zLVdAkuK9FKcrS2U7TIrMByDTUMwvnGJAXwd3RK1TfRZsuU8pOgAn4ELYHsRx_gVhtWSbMOSC9nfYhQL3nKrytzzCC0OGkayjPx6WZHZf6lxxQMrKuuCPfQaVLNq10P8x78tMttHFkrsIQZQdlj6XJY2UqD7OqvCq7_-22p2NqBFYBympGl69o1792IWZ-xDUJjv8b8_O9NoTFyL8ydxsNah0C0zWSDwKBM3YFJpJDsIMCl-NixYJT9m-trE21LE8fOc5kkXPsiSuL2qowg9msAiUVuAiuOcI3lRnfJTdrJVMoBudqQVTmNuW_u0PEjNL3UIu5LiKVFUzqMrQh5MPczb6fZ3ftxdYau36CWGBX28hBITzytLf7YJUsUukt2gJ4FO8-c0MhyDuTEM8pg85xzjTt1SNOoHwJs6WABPpcdcUMSP_pAByI5mCZ_FpDAs3jqZ0b4OxQZ-u7coy9Ip-Xm2gOLxJRr415S4BN502uMC8iMH9bajYmTNvCF-bbyK9oQDs_CGVfSSzyEWsLONH6QcGmk1iZ97XpNFYkFMMLIeokphXqlhKWYQDBLjzX1O0vLyJya1Djf9Cz12yS52YGA8YlKvVWGMgxG8SZnVUIn1-5Fho9oGD6nMIYStgAt_kzkzT3C3YrD1GwULTouoDmXbJDjtQ28IgiUVZ2HchW1SkoqP3_6QX-T8D8_d_WLNGVAnzynYq3NJzeTeTuzEUxo8K2tE05n130MoFxIKVMc4SCnFTWq-vL8bhkqeN9pxa35CwsifP5N9nWFPJbdXRJWXWdNNW2WoWzAOqQG3JT9iPGUSuhWgXhudPYT6-O3-3IkPinyd01GWwS6WtTo7UFsIcJqc7OQrokk3qnwXA7V_mzCm3xJO022Qk7W_MH5npx9sGdYSlm5teDnQIIFfEB4402ooUKRcW9uR4aqaLSq8AZJTZOX39jtvJP9kxrzwZRbq7xUp9NPh\" rel=\"nofollow noopener\" target=\"_blank\">http:\/\/www.agrify.com<\/a>.<\/p>\n<p>\n        <strong>Forward-Looking<\/strong>\u00a0<strong>Statements<\/strong><\/p>\n<p>This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning\u00a0Agrify\u00a0and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements including, without limitation, Agrify\u2019s ability to consummate alternative financing transactions. In some cases, you can identify forward-looking statements by terms such as \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cexpects,\u201d \u201cplans,\u201d \u201canticipates,\u201d \u201ccould,\u201d \u201cintends,\u201d \u201ctargets,\u201d \u201cprojects,\u201d \u201ccontemplates,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cpredicts,\u201d \u201cpotential\u201d or \u201ccontinue\u201d or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. Agrify\u00a0has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the\u00a0Securities and Exchange Commission\u00a0(\u201cSEC\u201d), including under the caption \u201cRisk Factors\u201d in Agrify\u2019s Annual Report on Form 10-K filed for the year ended\u00a0December 31, 2021\u00a0with the\u00a0SEC, which can be obtained on the\u00a0SEC\u00a0website at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=y1LmvbL1CeJXr9xD2KPhgkS4F95a1TIDoOCJJojvpKT7qStvqy7LPPdfE2jU3zzV5e-fnAcfWnmj7x3rPVouFtFUhUzfYrhfT1jmJ2DTfuATlqUGJlpn0K6WCf9lCboKDSod43rk67SVsoNVeBC24EzDmgkrPQdlUjkalHTAM6rTNNJtd80Rlc_PhDnvEb3Mb-pbvYZxDrhm-Fqn9WcxmNkfoxLBC7z-4fN2xW05oenoWaAgIZKETjjV4fMIdT9GtVKuVsLVcAU1NfiGlMVLC-nFCgK16JR-IFjUinQwGDAKaJNaSxnV2g1gn5KSZaIODH7WemHkE-BdDU9fuVScQNXHqSnBNzmJHcyMuPzAM8jy7c20gKmpGc0DSiSRUOTiWD4ltRdrzIKqxabGo51naI8uTvCkvI-FEaDoI922rPk=\" rel=\"nofollow noopener\" target=\"_blank\">www.sec.gov<\/a>. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the\u00a0SEC.<\/p>\n<p>\n        <strong>Company Contacts<\/strong>\n      <\/p>\n<p>\n        <strong>Investor<\/strong>\u00a0<strong>Relations\u00a0Inquiries<\/strong><\/p>\n<p>Caitlin Moakley\u00a0Bricker<br \/>Chief of Staff\u00a0<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=JT_NPniDABEyvEBB14Q-6wMGJKmRqGQfGZLGly27fzfXOlp2Q4vllEHSU73H1E-5ZATgwP-NN_KL956P7nf-10DPN2wJ-W9iFu8cPFDHDzOClsSZ6ohTC6zRzMLdPsZq2Qo4oFGNsSxejOWNdNQLkAHMoNAEANu3Be8eMWNbAHNC7eZyIz2iaenb9zf0fCL4VRuJNK0bJdwGWNkRAblM0x-5jxBXIznZKKLpY5QKaosaJO7DEtInw-vdHwRnzWQhmZETyNNl9_-E7VJ7vkCPKuUKZX3-35egz1I0dKueqvE=\" rel=\"nofollow noopener\" target=\"_blank\">caitlin.moakley@agrify.com<\/a><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Iuzyo1T2o2lybKGWTiJZLlsBhKK2D2QL55Ghq31-q_m0wmPG4g7ZSVTgLCApPacAoitdHJKRDfQ12fzrRAacFPZSC9b4zanHFjsy8U9OCYOYo8w84JshIGEZq6tzJi4NN6pgDttmfPQ2PhoezAxKi7qvnMBo8pFk1sflDODxZtn4GY1G14eVErIK1TnceRp6TX2OOb6JosngGWA9SdCB3BnPFf0zMhlaMeoisDgC2SzuFCuoNt9ubJRqJPQnB2qzsfF-0BBMPlUdombEVcYqWiH-U6m1v8gQLAXOos8kNoEWmdE8_AYbJowKONEiAUosHaJhwo2yTxJ3NEIlKZvd7qCUYDw4zCkFJkm9OUCWZfANxHwqt5SamG4Vr-gvGqag0tf2Oysyq7VlqCVkbtC_z349VA92OPeBd-LLaYEekYgCFDRfJKfe-X7taj-ZXuKf7rs_Fc1OWzcSjPQq9Sw7VQ==\" rel=\"nofollow noopener\" target=\"_blank\"><br \/><\/a>(617) 733-0584<\/p>\n<p>\n        <strong>Media<\/strong>\u00a0<strong>Inquiries<\/strong><\/p>\n<p>Rachel Soulsby<br \/>Vice President of Marketing<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=XHtvPrE1kFSsQYg5f57quNtrtoeNzetTxFJmQLLP8PQP0hSZ-iUIGkY5kU_KgV4GUz3DKySDMUSFpvC0ObGQjIZTi7rIqQKyOFJpG5m2lAHSCsVGM4AgZcoQnDOJ1Zx59y6MEgEhb8NNOIwUli6zd2yDqB768NWCLxYHvuYMXpLvOpyK_8Hi4GKEKhBEQ3dHXEal3JpNzkooJY3L5brGSMhgX0zgG5pNvPKImKCdKUC42R3UF_t2ypbsMCqeXfR2uod_PCV9Gjp2s_ScnzJ_h1j4MH0rSiSrOz39aC73kCsvKvn_nkXeRi9Mg7mp0mdwLjEldWIqlX8TdaQuw5gtiLa69ICWudBDLz2Fon0KoWi2t4p4Sqo1eK5K-GsJuvXF27DQ4DEdJtNZg3sKv5T3BFnvTB3qHfDRpK3AY7UW2UNsMe8R2kUMhgPHdTtvcbOLRRxU83JaFS8LxbNHIgVqhwsqHQw0nevm8lvzOlOENRe9dUR4-VgC76_cArwrKxk9_t02AOtXVw_VtkzjQfpkeIM15gY36BZKrBt2XSGFoOjBzRBo5dhoTL6j6BMDk8PbTUgfAA4ubQ2vx-WBON-Mq3l1eLSmNGlNn5tIn61x5mJcS2jBRRgU5KkogaRxQiVzVhvxkFZBeyOOhIHYtTMxZaRnXUjE8DOY-PpwvjBP1r7dr5omvzwry_vnESj8OPoK63HK14cNliqdGgwUG1Q27qVd2QVOJUkLgF4dO8rlMP7Ny_96Nh_W6aeH0rdC8R5y_IISsdh3BPPOQ88zqUiKUlnJaS5ceWIpDFK_y3uyyHg=\" rel=\"nofollow noopener\" target=\"_blank\">rachel.soulsby@agrify.com<\/a><br \/>(978) 660-9125<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNDEzMCM1NTUzNDk5IzIyMDQ2NTQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MWRiYmU2MzktYzcwYy00NDNkLWIyYWUtZGRkZDY1ZWQ5Njk5LTEyMTYyMDc=\/tiny\/Agrify.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BILLERICA, Mass., April 24, 2023 (GLOBE NEWSWIRE) &#8212; Agrify Corporation\u00a0(Nasdaq: AGFY) (\u201cAgrify\u201d or the \u201cCompany\u201d), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced that it will not consummate the warrant inducement transaction that Agrify had previously announced on April 19, 2023, which, if completed, would have resulted in gross proceeds of up to $1.84 million and the issuance of approximately 21.3 million new warrants to exercising warrant holders.\u00a0\u00a0 Agrify determined that the transaction would not be in the best interests of its stockholders due, in part, to limitations on Agrify\u2019s ability to use its shelf registration statement. The reduction in the exercise price of warrants issued in Agrify\u2019s December 2022 public offering to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/agrify-corporation-announces-termination-of-warrant-inducement-transaction\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Agrify Corporation Announces Termination of Warrant Inducement Transaction&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-750515","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Agrify Corporation Announces Termination of Warrant Inducement Transaction - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/agrify-corporation-announces-termination-of-warrant-inducement-transaction\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Agrify Corporation Announces Termination of Warrant Inducement Transaction - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BILLERICA, Mass., April 24, 2023 (GLOBE NEWSWIRE) &#8212; Agrify Corporation\u00a0(Nasdaq: AGFY) (\u201cAgrify\u201d or the \u201cCompany\u201d), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced that it will not consummate the warrant inducement transaction that Agrify had previously announced on April 19, 2023, which, if completed, would have resulted in gross proceeds of up to $1.84 million and the issuance of approximately 21.3 million new warrants to exercising warrant holders.\u00a0\u00a0 Agrify determined that the transaction would not be in the best interests of its stockholders due, in part, to limitations on Agrify\u2019s ability to use its shelf registration statement. The reduction in the exercise price of warrants issued in Agrify\u2019s December 2022 public offering to &hellip; Continue reading &quot;Agrify Corporation Announces Termination of Warrant Inducement Transaction&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/agrify-corporation-announces-termination-of-warrant-inducement-transaction\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-24T20:33:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNDEzMCM1NTUzNDk5IzIyMDQ2NTQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/agrify-corporation-announces-termination-of-warrant-inducement-transaction\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/agrify-corporation-announces-termination-of-warrant-inducement-transaction\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Agrify Corporation Announces Termination of Warrant Inducement Transaction\",\"datePublished\":\"2023-04-24T20:33:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/agrify-corporation-announces-termination-of-warrant-inducement-transaction\\\/\"},\"wordCount\":566,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/agrify-corporation-announces-termination-of-warrant-inducement-transaction\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODgyNDEzMCM1NTUzNDk5IzIyMDQ2NTQ=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/agrify-corporation-announces-termination-of-warrant-inducement-transaction\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/agrify-corporation-announces-termination-of-warrant-inducement-transaction\\\/\",\"name\":\"Agrify Corporation Announces Termination of Warrant Inducement Transaction - 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