Agrify (AGFY) said Monday it completed the purchase of certain assets from Double or Nothing, including the Senorita brand of hemp-derived THC beverages, in exchange for 530,000 shares of Agrify stock.
The cannabis infrastructure and cultivation tool provider said last month that the acquisition would include all assets related to the operation of Senorita's hemp-derived legal THC business.
Agrify said Monday it plans to focus on the cannabis beverage segment and will launch new Senorita flavors Paloma in January and Ranch Water later in 2025.
The company said it now has about 2 million common shares and 7.6 million warrants outstanding following the transaction.
Shares of Agrify were up more than 7% in early Monday trading.
Price: 43.02, Change: +3.02, Percent Change: +7.55
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