Raymond Chang Amends Agrify Corp Stake Filing

TL;DR

Chang updated his Agrify stake filing. No new shares bought/sold mentioned, just an update.

AI Summary

Raymond Chang, through CP Acquisitions, LLC and NXT3J Capital, LLC, has amended his Schedule 13D filing for Agrify Corporation as of February 28, 2024. This amendment, filed on March 1, 2024, updates his beneficial ownership information for Agrify's common stock. The filing does not specify the exact percentage of ownership or any new transactions, but it is an update to his previous filings regarding his stake in the company.

Why It Matters

This filing indicates an ongoing update to Raymond Chang's significant ownership in Agrify Corporation, which could signal changes in his investment strategy or influence within the company.

Risk Assessment

Risk Level: medium — Amendments to 13D filings can signal shifts in major shareholder intentions, potentially impacting stock price and corporate strategy.

Key Players & Entities

• Agrify Corporation (company) — Subject Company
• Raymond Chang (person) — Filing Person
• CP ACQUISITIONS, LLC (company) — Group Member
• NXT3J CAPITAL, LLC (company) — Group Member
• RTC3 2020 IRREVOCABLE TRUST (company) — Group Member
• February 28, 2024 (date) — Date of Event
• March 1, 2024 (date) — Filing Date

FAQ

Key Financial Figures

• $0.001 — ation (Name of Issuer) Common Stock, $0.001 par value (Title of Class of Securiti
• $0 — ) 575 shares of common stock, par value $0.001, of Agrify Corporation (“Comm
• $15,000,000.00 — with an outstanding principal amount of $15,000,000.00 and a conversion price of $1.46 per sha
• $1.46 — 15,000,000.00 and a conversion price of $1.46 per share (as may be adjusted per the S
• $0.38 — Issuer, at a combined purchase price of $0.38 per share of Common Stock. 263,157 of t

Filing Documents

• ea0201055-13da3chang_agrify.htm (SC 13D/A) — 86KB
• 0001213900-24-019034.txt ( ) — 87KB

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer.

(a) of the Schedule

Item 5(a) of the Schedule 13D is hereby amended and restated in its entirety as follows: Each Reporting Person is the record owner of the securities set forth on their respective cover sheet. The percentage of outstanding Common Stock which may be deemed to be beneficially owned by each Reporting Person is set forth on Line 13 of each Reporting Person’s cover sheet. Such percentage was calculated based on the 10,265,114 shares of Common Stock outstanding as of the date hereof. Notwithstanding the foregoing, Mr. Chang hereby disclaims beneficial ownership with respect to the securities held by NXT3J, RTC3, CP Acquisitions and Raymond Chang Jr. except to the extent of his pecuniary interest therein. Item 5(c) of the Schedule 13D is hereby amended and supplemented as follows: On February 28, 2024, RTC3 acquired 1,842,104 shares of Common Stock as part of a public offering completed by the Issuer, at a combined purchase price of $0.38 per share of Common Stock. 263,157 of the shares of Common Stock were purchased by RTC3 directly using trust assets and 1,578,947 263,157 of the shares of Common Stock were initially purchased by Chinwei Wang as an agent of RTC3 and subsequently transferred to RTC3 for estate planning purposes. 7 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: March 1, 2024 Raymond Nobu Chang /s/ Raymond Nobu Chang Name: Raymond Nobu Chang RTC3 2020 Irrevocable Trust By: /s/ Johanna Wise Sullivan Name: Johanna Wise Sullivan Title: Trustee NXT3J Capital, LLC By: /s/ Raymond Nobu Chang Name: Raymond Nobu Chang Title: Manager CP Acquisitions, LLC By: /s/ Raymond Nobu Chang Name: Raymond Nobu Chang Title: Manager Raymond Chang, Jr. /s/ Raymond Chang, Jr. Name: Raymond Chang, Jr. 8

View Full Filing

View this SC 13D/A filing on SEC EDGAR