Agrify Corporation Completes Acquisition of Señorita Beverage Brand

On December 12, 2024, Agrify Corporation (NASDAQ: AGFY) finalized the acquisition of the Señorita beverage brand, known for its hemp-derived THC products, in a move aimed at expanding its market presence. The acquisition was completed following the execution of an Asset Purchase Agreement with Joel Gott and Charles Bieler, the owners of Double or Nothing LLC, the company behind the Señorita brand.

As part of the agreement, Agrify issued 97,300 shares of its common stock and pre-funded warrants for the acquisition. The Purchase Agreement includes provisions restricting the transfer of shares for a specified period to manage ownership levels within the Company.

The Acquisition involves a significant strategic shift for Agrify, as it looks to enter the burgeoning beverages sector, aiming to cater to the increasing consumer demand for cannabis-infused drinks. The move aligns with the Company’s vision to diversify its product offerings and capitalize on evolving market trends.

The Purchase Agreement encompasses customary representations, warranties, and covenants, wherein both parties indemnify each other against certain losses related to breaches and liabilities. The terms of the agreement stipulate specific actions and commitments to ensure a smooth transition of ownership and operations.

It is essential to note that the completion of this acquisition underscores Agrify’s commitment to innovation and growth within the cannabis and hemp industries. The Company aims to leverage the established brand reputation and expertise of Señorita to drive further product development and expansion into new consumer markets.

The transaction was formally announced via a press release on December 16, 2024, highlighting the strategic importance of the acquisition for Agrify and emphasizing the exciting prospects it brings for both companies. The acquisition signifies a significant milestone for Agrify as it ventures into the non-alcoholic beverage segment, capitalizing on the evolving preferences of consumers.

Investors and stakeholders are encouraged to refer to the complete text of the Purchase Agreement and related documents filed with the Securities and Exchange Commission for a comprehensive understanding of the transaction’s details and implications within the regulatory framework.

Please note that this news article is based on the information provided in the 8-K SEC Filing and the subsequent press release issued by Agrify Corporation.

This article does not contain any opinions, speculations, or personal interpretations and aims to provide a factual overview of the recent acquisition by Agrify Corporation.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Agrify’s 8K filing here.

About Agrify

Agrify Corporation offers hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. It offers vertical farming units and Agrify Insights Software-as-a-Service software; integrated grow racks and LED grow lights; and non-proprietary products designed, engineered, and manufactured by third parties, such as air cleaning systems and pesticide-free surface protection products.