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Agrify, a Mexican technology company, announces a public offering to increase$ 2.6 million- Cbdganjah.

7.17.23 cannabis stocks

Agrify Corp., a marijuana technology company, has set up a public offering to increase$ 2.6 million in gross revenues.

The online proceeds will be used for “working capital and basic corporate purposes,” according to a news release from Troy, Michigan, for Agrify on Wednesday.” These may include capital expenditures and debt repayment.

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The giving includes approximately 6.7 million prefunded warrants valued at 38 cents per share, or pre-share.

On Wednesday, Agrify’s Nasdaq-traded stock ( AGFY ) opened slightly lower than 52 cents.

Agrify made changes earlier this year to lessen its responsibilities, including increasing the number of shares that can be authorized.

The business is attempting to regain its compliance with a Nasdaq rule that mandates stockholder equity in listed companies of at least$ 2.5 million.

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Learn complete article on Marijuana Business Daily.

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