Agrify Announces Pricing Of Its Public Offering

(RTTNews) - Agrify Corp. (AGFY) Friday announced the pricing of its underwritten public offering of 11,884,615 shares of its common stock, and, in lieu of common stock to certain investors.

The combined public offering price for each share of common stock and accompanying two Common Warrants is $0.65, and the combined offering price for each Pre-Funded Warrant and accompanying two Common Warrants is $0.649.

The gross proceeds from the offering are expected to be approximately $8.7 million. The company said it intends to use the net proceeds from the offering for working capital and general corporate purposes.

The company will use pre-funded warrants to purchase 1,500,000 shares of its common stock, and accompanying warrants to purchase 26,769,230 shares of its common stock.

The Pre-Funded Warrants and Common Warrants will be issued separately and can only be purchased together in the Offering.

The Offering is expected to close on December 20.