Agrify Corporation (Nasdaq: AGFY), a prominent provider of solutions tailored for the cannabis sector, has announced the signing of a non-binding letter of intent to acquire specific assets from Double or Nothing LLC, the owner and creator of the Señorita brand, which specializes in hemp-derived legal THC beverages.
The agreement involved the exchange of 530 thousand shares of Agrify common stock or their equivalents.
This decision would set Agrify on a path to become a dominant force in the fast-evolving market of hemp-derived legal THC beverages.
The transaction is anticipated to be finalized by the end of the year.
Agrify Interim CEO Ben Kovler, stated, “This is an exciting time for Agrify and our shareholders as our business has fresh energy, a strong balance sheet and new perspective on finding solutions in the cannabis industry.”
Agrify Corporation (AGFY) shares traded as low as $4.29 and as high as $5.67 on a day volume of 202.70 thousand shares, closed Monday’s regular trading session at $4.83, downfall of 14.36 percent.
