Agrify Corporation to Change Its Name to RYTHM, Inc. Following Brand Portfolio Acquisition
Agrify Corporation (Nasdaq:AGFY) announced its transformation into RYTHM, Inc., acquiring a significant brand portfolio from Green Thumb Industries for $50 million via a convertible note. The acquisition includes prominent brands such as RYTHM, Dogwalkers, and Beboe. The company will begin trading under the new ticker symbol "RYM" on September 2, 2025.
The strategic move positions RYTHM as a leader in the well-being consumer space, focusing on hemp-derived THC products and brand licensing revenue. Green Thumb Industries will retain manufacturing and distribution rights through a licensing agreement. The company's capital structure post-transaction includes 2.0 million shares of common stock outstanding, with additional warrants and convertible notes potentially converting to approximately 14.3 million shares.
Agrify Corporation (Nasdaq:AGFY) ha annunciato la sua trasformazione in RYTHM, Inc. acquisendo un importante portafoglio di marchi da Green Thumb Industries per 50 milioni di dollari tramite una nota convertibile. L’acquisizione comprende marchi noti come RYTHM, Dogwalkers e Beboe. La società inizierà a negoziare con il nuovo ticker "RYM" il 2 settembre 2025.
Questa mossa strategica posiziona RYTHM come protagonista nel settore del benessere dei consumatori, con un focus sui prodotti a base di THC derivato dalla canapa e sui ricavi da licensing dei marchi. Green Thumb Industries manterrà i diritti di produzione e distribuzione tramite un accordo di licenza. La struttura del capitale dopo l’operazione prevede 2,0 milioni di azioni ordinarie in circolazione, con warrant aggiuntivi e note convertibili che potrebbero portare il totale a circa 14,3 milioni di azioni.
Agrify Corporation (Nasdaq:AGFY) anunció su transformación a RYTHM, Inc., al adquirir una cartera de marcas significativa de Green Thumb Industries por 50 millones de dólares mediante una nota convertible. La adquisición incluye marcas destacadas como RYTHM, Dogwalkers y Beboe. La compañía empezará a cotizar con el nuevo símbolo "RYM" el 2 de septiembre de 2025.
Este movimiento estratégico sitúa a RYTHM como líder en el espacio de bienestar para consumidores, centrada en productos de THC derivado del cáñamo y en ingresos por licencias de marcas. Green Thumb Industries conservará los derechos de fabricación y distribución mediante un acuerdo de licencia. La estructura de capital tras la transacción incluye 2,0 millones de acciones ordinarias en circulación, con warrants y notas convertibles que podrían convertirse en aproximadamente 14,3 millones de acciones.
Agrify Corporation (Nasdaq:AGFY)는 회사명을 RYTHM, Inc.으로 전환하고 Green Thumb Industries로부터 주요 브랜드 포트폴리오를 전환사채(convertible note)로 미화 5,000만 달러에 인수했다고 발표했습니다. 이번 인수에는 RYTHM, Dogwalkers, Beboe 등 유명 브랜드가 포함됩니다. 회사는 2025년 9월 2일부터 새로운 티커 "RYM"으로 거래를 시작합니다.
이 전략적 조치는 RYTHM을 소비자 웰빙 분야의 선도 기업으로 자리매김시키며, 헴프 유래 THC 제품과 브랜드 라이선스 수익에 주력하게 합니다. Green Thumb Industries는 라이선스 계약을 통해 제조 및 유통 권리를 유지합니다. 거래 이후 자본 구조는 유통 중인 200만 주의 보통주를 포함하며, 추가 워런트 및 전환사채가 약 1,430만 주로 전환될 가능성이 있습니다.
Agrify Corporation (Nasdaq:AGFY) a annoncé sa transformation en RYTHM, Inc. et l’acquisition d’un portefeuille de marques important auprès de Green Thumb Industries pour 50 millions de dollars via une note convertible. L’acquisition comprend des marques reconnues telles que RYTHM, Dogwalkers et Beboe. La société commencera à être cotée sous le nouveau symbole « RYM » le 2 septembre 2025.
Cette décision stratégique positionne RYTHM comme un acteur majeur du bien-être grand public, axé sur des produits à base de THC dérivé du chanvre et sur les revenus de licences de marques. Green Thumb Industries conservera les droits de fabrication et de distribution via un accord de licence. La structure du capital après la transaction comprend 2,0 millions d’actions ordinaires en circulation, des bons de souscription et des notes convertibles pouvant se convertir en environ 14,3 millions d’actions.
Agrify Corporation (Nasdaq:AGFY) hat seine Umbenennung in RYTHM, Inc. bekannt gegeben und ein bedeutendes Markenportfolio von Green Thumb Industries für 50 Millionen US-Dollar über eine wandelbare Anleihe erworben. Zur Übernahme gehören bekannte Marken wie RYTHM, Dogwalkers und Beboe. Das Unternehmen wird ab dem 2. September 2025 unter dem neuen Tickersymbol "RYM" gehandelt.
Der strategische Schritt positioniert RYTHM als Marktführer im Bereich Verbraucher-Wellbeing mit Schwerpunkt auf hemp-basierten THC-Produkten und Erlösen aus Markenlizenzen. Green Thumb Industries behält über eine Lizenzvereinbarung Fertigungs- und Vertriebsrechte. Die Kapitalstruktur nach der Transaktion umfasst 2,0 Millionen ausgestellte Stammaktien, wobei zusätzliche Warrants und wandelbare Schuldverschreibungen sich vermutlich in rund 14,3 Millionen Aktien umwandeln lassen.
- Strategic acquisition of premium brand portfolio (RYTHM, Dogwalkers, Beboe) for $50M
- New revenue streams through licensing agreements and hemp-derived THC product sales
- Positioning ahead of consumer shift towards THC products and wellness alternatives
- Expanded market reach beyond traditional dispensary channels
- Significant dilution potential from 14.3M shares in warrants and convertible notes
- Substantial debt addition through $50M convertible note financing
- Execution risk in transitioning to new business model and brand identity
- Acquires brand portfolio including RYTHM, Dogwalkers, and Beboe from Green Thumb Industries
- Enters into licensing agreement permitting Green Thumb to manufacture and distribute brands
- Under the new name, RYTHM, Inc. will assume the Nasdaq ticker symbol “RYM” starting September 2, 2025
ROLLING MEADOWS, Ill., Aug. 27, 2025 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), a leading provider of branded innovative solutions for the cannabis and hemp industries, today announced the acquisition of a portfolio of brand intellectual properties (the “Brands”), including RYTHM, Dogwalkers, Beboe and others, from Green Thumb Industries for US
This acquisition marks the Company’s next step as it positions itself as a leader in the well-being consumer space. As consumer preferences and policies shift, the Company expects that this transaction will strategically position it for rapid topline growth through licensing revenue and expanding sales of hemp-derived THC products, including the recently launched RYTHM Beverages.
“RYTHM’s future is bright as we are well positioned to deliver revenue growth both in hemp-derived THC sales and brand licensing,” said Chairman and Interim Chief Executive Officer Ben Kovler. “Demand for THC is rising as consumers seek well-being and alternatives to alcohol. And most importantly, these THC products are no longer just available at the dispensary. Thus, we continue to position the business to be in the right place at the right time, ahead of material change. Our portfolio of brands, which now includes RYTHM, incredibles, Dogwalkers, Beboe, &Shine, Doctor Solomon’s and Good Green, in addition to Señorita, continues to deliver well-being to tens of thousands of Americans every day. It feels especially good, today, to say Find Your RYTHM, America.”
Following this transaction, the Company has approximately 2.0 million shares of common stock outstanding, warrants for approximately 7.6 million shares of common stock, and convertible notes that, if converted (principal and interest), would equal approximately 6.7 million shares of common stock. The CUSIP number for RYM common stock will remain 00853E404.
About Us
The Company’s portfolio of brands delivers well-being to millions of Americans every year. The company features some of the most recognized and trusted names in the cannabis and hemp industries, including RYTHM, incredibles, Dogwalkers, Beboe, Señorita THC Margaritas, &Shine, Doctor Solomon’s and Good Green in thousands of physical locations and online channels. With products rooted in quality, safety, and innovation, the Company is shaping cannabis experiences that enhance daily life. Learn more and explore the full brand portfolio at www.RYTHMinc.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the Company and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements including, without limitation, statements regarding future financial results including the potential for revenue growth from licensing and hemp-derived THC sales, the expected timing of the Company’s name and ticker symbol change, and potential trends in consumer preferences. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that the Company believes may affect its business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect the Company’s business, including those described in the Company’s filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K filed for the year ended December 31, 2024 with the SEC, which can be obtained on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, the Company does not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures the Company makes on related subjects in its public announcements and filings with the SEC.
Investor Relations Contact
IR@RYTHMinc.com
FAQ
Why is Agrify Corporation (AGFY) changing its name to RYTHM, Inc.?
What brands did Agrify acquire from Green Thumb Industries?
When will AGFY stock start trading as RYM?
What is the total potential dilution from RYTHM's (RYM) convertible securities?
How will Green Thumb Industries continue to use the acquired brands?
