Agrify announces transfer of its existing credit facility and expected new equity investment

Troy, mich., oct. 30, 2023 (globe newswire) -- agrify corporation (nasdaq: agfy) (“agrify” or the “company”), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced that cp acquisition llc (the “new lender”) and its existing institutional lender (the “existing lender”), have signed a definitive agreement pursuant to which the new lender purchased all of the outstanding convertible and senior secured notes of agrify held by the existing lender and plans to participate in a future equity raise to inject new capital in the company. raymond chang, the chief executive officer of the company, is one of the principals of the new lender.
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