Agrify Shares Tumble 28% After Disclosing Equity Sale with Certain Investors

Dow Jones

2024-11-21

By Denny Jacob

Agrify shares tumbled 28% after entering a private placement agreement with certain investors for about $26 million in proceeds.

Shares were trading around $27.95. The stock is up 54% year to date.

The company, which focuses on solutions for the cannabis and hemp industries, said it entered an agreement for a non-brokered private placement priced at $22.30 a share. It intends to use the proceeds from the private placements for general corporate purposes including working capital and business development.

The private placement is expected to close Thursday.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

November 21, 2024 10:21 ET (15:21 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。

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The stock is up 54% year to date. \n\n\n  The company, which focuses on solutions for the cannabis and hemp industries, said it entered an agreement for a non-brokered private placement priced at $22.30 a share. It intends to use the proceeds from the private placements for general corporate purposes including working capital and business development. \n\n\n  The private placement is expected to close Thursday. \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 21, 2024 10:21 ET (15:21 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":1}}}