Agrify receives nasdaq staff determination of non-compliance with listing rule 5250(c)(1)

Troy, mich., oct. 20, 2023 (globe newswire) -- agrify corporation (nasdaq: agfy) (“agrify”), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced that on october 17, 2023 it received a letter from the listing qualifications department (the “listing department”) of the nasdaq stock market llc (“nasdaq”) notifying agrify that nasdaq has initiated a process that could result in the delisting of agrify's securities from nasdaq as a result of agrify not being in compliance with nasdaq listing rule 5250(c)(1) (the “listing rule”), which requires listed companies to timely file all required periodic financial reports with the securities and exchange commission (the “sec”). the staff determination has no immediate effect and will not immediately result in the suspension of trading or delisting of agrify's shares of common stock.
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