Agrify Corp Files 8-K: Material Agreement, Financials
Ticker: RYM · Form: 8-K · Filed: May 16, 2024 · CIK: 1800637
| Field | Detail |
|---|---|
| Company | Agrify Corp (RYM) |
| Form Type | 8-K |
| Filed Date | May 16, 2024 |
| Risk Level | medium |
| Pages | 12 |
| Reading Time | 15 min |
| Key Dollar Amounts | $0.001, $2 million, $15.1 million, $1.51, $3 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financials, disclosure
TL;DR
Agrify Corp signed a material agreement, filed financials. Big moves ahead.
AI Summary
On May 16, 2024, Agrify Corporation entered into a Material Definitive Agreement. The filing also includes Regulation FD Disclosure and Financial Statements and Exhibits. The company is incorporated in Nevada and its principal executive offices are located in Troy, Michigan.
Why It Matters
This 8-K filing indicates a significant contractual development for Agrify Corporation, which could impact its operational and financial future.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, and the inclusion of financial statements suggests potential financial shifts.
Key Players & Entities
- Agrify Corporation (company) — Registrant
- May 16, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- Troy, MI (location) — Address of principal executive offices
FAQ
What type of Material Definitive Agreement did Agrify Corporation enter into?
The filing states that Agrify Corporation entered into a Material Definitive Agreement, but the specific details of the agreement are not provided in this excerpt.
What is the significance of the Regulation FD Disclosure included in the filing?
A Regulation FD Disclosure ensures that material non-public information is broadly disseminated to the public, preventing selective disclosure.
What information is typically found in the Financial Statements and Exhibits section of an 8-K?
This section usually contains financial reports, material contracts, and other exhibits relevant to the reported event.
When was Agrify Corporation incorporated, and where are its principal executive offices located?
Agrify Corporation was incorporated in Nevada, and its principal executive offices are located at 2468 Industrial Row Dr., Troy, MI 48084.
What is the SEC file number for Agrify Corporation?
The SEC file number for Agrify Corporation is 001-39946.
Filing Stats: 3,702 words · 15 min read · ~12 pages · Grade level 16.2 · Accepted 2024-05-16 07:30:30
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share AGFY Nasdaq Capital Mark
- $2 million — termination fee in the amount equal to $2 million. None of the representations and warr
- $15.1 million — red convertible note with approximately $15.1 million of outstanding principal and interest t
- $1.51 — s of common stock, with a cost basis of $1.51 per share, and (ii) $3 million of the C
- $3 million — cost basis of $1.51 per share, and (ii) $3 million of the CP Note will be assigned and sol
- $2.1 million — junior secured notes with approximately $2.1 million of outstanding principal and interest t
- $1 million — o GIC (the "GIC Notes") as follows: (i) $1 million of the GIC Notes will be assigned and s
- $1.1 million — cost basis of $1.51 per share, and (ii) $1.1 million of the GIC Notes will be assigned and s
- $10.1 million — n cash. With regard to the unassigned $10.1 million portion of the CP Note, upon the one (1
- $7 million — Miracle in exchange for the payment of $7 million in cash, provided that CP and its affil
- $750,000 — if Nature's Miracle purchases at least $750,000 in lighting equipment from the Company,
- $500,000 — ly issued Additional Notes, that exceed $500,000. The Debt Purchase Agreement contains
Filing Documents
- ea0206334-8k_agrify.htm (8-K) — 80KB
- ea020633401ex2-1_agrify.htm (EX-2.1) — 506KB
- ea020633401ex10-1_agrify.htm (EX-10.1) — 179KB
- ea020633401ex99-1_agrify.htm (EX-99.1) — 17KB
- 0001213900-24-043986.txt ( ) — 1114KB
- agfy-20240516.xsd (EX-101.SCH) — 3KB
- agfy-20240516_lab.xml (EX-101.LAB) — 33KB
- agfy-20240516_pre.xml (EX-101.PRE) — 22KB
- ea0206334-8k_agrify_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AGRIFY CORPORATION Date: May 16, 2024 By: /s/ Raymond Nobu Chang Raymond Nobu Chang Chief Executive Officer 6