Chan Amends Agrify Stake Filing
Sentiment: neutral
Topics: schedule-13d, amendment, beneficial-ownership
Related Tickers: AGFY
TL;DR
Jenny Chan updated her Agrify stake filing on Nov 29. Watch this space.
AI Summary
Jenny I-Tseng Chan filed an amendment (No. 7) to Schedule 13D on November 29, 2024, regarding Agrify Corporation. The filing indicates a change in beneficial ownership, with the event date requiring this filing being November 5, 2024. Chan's address is listed as c/o McCarter & English, LLP in Boston, MA.
Why It Matters
This filing signals a potential shift in control or significant influence over Agrify Corporation by Jenny I-Tseng Chan, which could impact the company's stock price and strategic direction.
Risk Assessment
Risk Level: medium — Schedule 13D filings often precede significant corporate actions or changes in control, introducing uncertainty.
Key Players & Entities
- Chan I-Tseng Jenny (person) — Filing person
- Agrify Corporation (company) — Subject company
- McCarter & English, LLP (company) — Legal representative for filing person
- November 5, 2024 (date) — Date of event requiring filing
- November 29, 2024 (date) — Filing date
FAQ
What specific change in beneficial ownership is reported in this amendment?
The filing is an amendment to Schedule 13D, indicating a change in beneficial ownership, but the specific details of the change are not provided in the header information.
Who is the authorized person to receive notices for this filing?
I-Tseng Jenny Chan, c/o McCarter & English, LLP, 265 Franklin St. Boston, MA 02110, is the person authorized to receive notices.
What is the CUSIP number for Agrify Corporation's common stock?
The CUSIP number for Agrify Corporation's Common Stock is 00853E 404.
What is the date of the event that triggered this Schedule 13D filing?
The date of the event which requires filing of this statement is November 5, 2024.
What is the primary business address of Agrify Corporation?
Agrify Corporation's business address is 2468 Industrial Row Drive, Troy, MI 48084.
Filing Stats: 1,331 words · 5 min read · ~4 pages · Grade level 9.3 · Accepted 2024-11-29 16:30:03
Key Financial Figures
- $0.001 — ation (Name of Issuer) Common Stock, $0.001 par value (Title of Class of Securiti
- $3,500,000.00 — with an outstanding principal amount of $3,500,000.00 and a conversion price of $21.90 per sh
- $21.90 — $3,500,000.00 and a conversion price of $21.90 per share (as may be adjusted per the S
- $3,000,000.00 — with an outstanding principal amount of $3,000,000.00 and a conversion price of $3.9495 (as m
- $3.9495 — $3,000,000.00 and a conversion price of $3.9495 (as may be adjusted per the Junior Note
Filing Documents
- ea0222554-13da7chan_agri.htm (SC 13D/A) — 42KB
- ea022255401ex99-1_agrify.htm (EX-99.1) — 109KB
- 0001213900-24-104118.txt ( ) — 152KB
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 1,743,373 shares of Common Stock outstanding as of the date hereof. Notwithstanding the foregoing, Ms. Chan hereby disclaims beneficial ownership with respect to the securities held by CP Acquisitions except to the extent of her pecuniary interest therein.
(c) of the Schedule
Item 5(c) of the Schedule 13D is hereby amended and supplemented as follows: The foregoing summary of the Purchase Agreement does not purport to be complete, and is qualified in its entirety by reference to a copy of the Purchase Agreement that is filed as Exhibit 1 hereto. The percentages used in this Schedule 13D are calculated based on 1,743,373 shares of Common Stock outstanding as of November 25, 2024.
Material to be Filed as Exhibits
Item 7. Material to be Filed as Exhibits. Exhibit No. Description 1 Purchase Agreement, dated as of November 5, 2024, by and among RSLGH, LLC, Raymond N. Chang, Chinwei Wang, I-Tseng Jenny Chan, CP Acquisitions, LLC, GIC Acquisition LLC, RTC3 2020 Irrevocable Trust, M Zion Capital, LLC, M Olivet Capital, LLC and M Cannan Capital, LLC – Filed Herewith 4 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: November 29, 2024 I-Tseng Jenny Chan /s/ I-Tseng Jenny Chan Name: I-Tseng Jenny Chan CP Acquisitions, LLC By: /s/ I-Tseng Jenny Chan Name: I-Tseng Jenny Chan Title: Manager 5