Agrify Corp Files 8-K: Material Agreement & Equity Sales

TL;DR

Agrify Corp filed an 8-K on 10/18/24 for a material agreement and equity sales.

AI Summary

On October 18, 2024, Agrify Corporation entered into a Material Definitive Agreement. The company also reported on unregistered sales of equity securities and filed financial statements and exhibits. Specific details regarding the agreement and sales were not provided in this excerpt.

Why It Matters

This filing indicates significant corporate activity, including a new definitive agreement and equity transactions, which could impact the company's financial standing and future operations.

Risk Assessment

Risk Level: medium — The filing mentions a Material Definitive Agreement and unregistered sales of equity securities, which can introduce financial and operational risks.

Key Players & Entities

• Agrify Corporation (company) — Registrant
• October 18, 2024 (date) — Date of earliest event reported
• 2468 Industrial Row Dr. Troy, MI 48084 (address) — Principal executive offices
• 001-39946 (company) — SEC File Number

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share AGFY Nasdaq Capital Marke
• $1,500,000 — the Junior Note would be increased from $1,500,000 to $3,000,000. The conversion price app
• $3,000,000 — e would be increased from $1,500,000 to $3,000,000. The conversion price applicable to the
• $3.9495 — , in each case at a conversion price of $3.9495 (as may be adjusted per the Junior Note

Filing Documents

• ea0218192-8k_agrify.htm (8-K) — 27KB
• ea021819201ex4-1_agrify.htm (EX-4.1) — 15KB
• 0001213900-24-089657.txt ( ) — 216KB
• agfy-20241018.xsd (EX-101.SCH) — 3KB
• agfy-20241018_lab.xml (EX-101.LAB) — 33KB
• agfy-20241018_pre.xml (EX-101.PRE) — 22KB
• ea0218192-8k_agrify_htm.xml (XML) — 4KB

01. Entry Into a Material Definitive

Item 1.01. Entry Into a Material Definitive Agreement. Amendment of Convertible Note As previously reported, on August 14, 2024, Agrify Corporation (the "Company") issued a junior secured promissory note (the "Junior Note") in favor of CP Acquisitions, LLC ("CP"), an entity that is owned and managed by Raymond N. Chang, the Company's Chairman and Chief Executive Officer, and I-Tseng Jenny Chan, a member of the Company's Board of Directors. On October 18, 2024, the Company and CP entered into an amendment to the Junior Note (the "Junior Note Amendment"), pursuant to which the maximum principal sum of the Junior Note would be increased from $1,500,000 to $3,000,000. The conversion price applicable to the Junior Note will remain unchanged with an exercise price of $0.001 per share, in each case at a conversion price of $3.9495 (as may be adjusted per the Junior Note). The Junior Note bears interest at a rate of 10% per annum, will mature in full on July 1, 2025, and may be prepaid without any fee or penalty. The Junior Note is secured by the Company's assets and ranks junior to existing secured indebtedness of the Company. The Junior Note may be converted into common stock of the Company or, at CP's election, pre-funded warrants.

02. Unregistered

Item 3.02. Unregistered Sales of Securities. The information set forth in Item 1.01 is incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Title 4.1 Amendment No. 1 to Junior Secured Convertible Promissory Note, dated as of October 18, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1

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: October 22, 2024 By: /s/ Raymond Nobu Chang Raymond Nobu Chang Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR