TROY, Mich., May 28, 2024 (GLOBE NEWSWIRE) — Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced that after the recent $13.8 million debt-to-equity conversions by CP Acquisitions, LLC and GIC Acquisition, LLC, two entities affiliated with Raymond Chang, Chairman and CEO of Agrify, Agrify has received confirmation from Nasdaq that it has regained compliance with the stockholders’ equity requirement of minimum of $2.5 million in Listing Rule 5550(b)(1).
“We are very thankful that Nasdaq has confirmed that Agrify has regained compliance with the minimum stockholders’ equity requirement. The $13.8 million debt-to-equity conversion is a very significant commitment from the management and the leading shareholders to ensure the ongoing Nasdaq listing. In the last few months, we have made tremendous…
