Welcome to our dedicated page for Agrify Corporation news (Ticker: $AGFY), a resource for investors and traders seeking the latest updates and insights on Agrify Corporation stock.
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Rhea-AI Summary
Agrify Corporation (AGFY) reduces operating loss and cash-burn, continues turn-around initiative with a focus on cost reduction and efficiency improvement. Q2 2023 financial results show significant improvements in operating expenses and headcount, aiming for profitability in the shortest time possible.
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End-of-Day
-3.93%
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Rhea-AI Summary
Agrify Corporation (AGFY) focuses on cost-cutting and debt restructuring to navigate industry challenges. Despite a decline in revenue and gross profit, the company emphasizes strategic changes and synergies from acquired companies.
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-0.65%
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Rhea-AI Summary
Agrify Corporation (AGFY) received a notification from Nasdaq regarding non-compliance with the Listing Rule due to delayed filing of its Quarterly Report on Form 10-Q. The company is at risk of delisting if compliance is not regained. Agrify also needs to complete and file Delinquent Reports, which may not be possible within the extension period granted by the Nasdaq Hearings Panel.
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AGFY: Agrify Corporation Receives Extension for Stock Suspension from Nasdaq, Faces Delisting Due to Late Financial Report Filings
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-8.54%
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Agrify Corporation has announced that CP Acquisition LLC and its existing institutional lender have signed an agreement for the New Lender to purchase all outstanding convertible and senior secured notes of Agrify held by the Existing Lender. The New Lender also plans to participate in a future equity raise to inject new capital into the company. Agrify aims to reduce operating loss and cash burn, settle trade payables, and restructure liabilities. The company has seen positive results using its vertical farming units and has gained interest from new cultivation facilities. On the extraction side, Agrify's comprehensive solutions and new products are gaining domestic and international interest. The reduction in debt and potential capital injections position Agrify for a rebound in the cannabis industry.
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End-of-Day
-5.84%
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Agrify Corporation receives letter from Nasdaq regarding potential delisting due to non-compliance with financial reporting requirements
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-3.2%
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Agrify completes restatements of quarterly filings for 2022, primarily related to reclassification of warrants as liabilities; restatements did not impact cash position, business operations, or sales; adjustments in fair value of warrants are non-cash items but impacted earnings results; 2022 audit and filings expected to be completed within next 30 days.
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Rhea-AI Sentiment
End-of-Day
5.53%
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Agrify received a letter from Nasdaq stating it was not in compliance with filing requirements, which could result in delisting. The company is working to regain compliance and expects to file its Form 10-Q within the prescribed period.
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End-of-Day
-0.93%
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Agrify Corporation (NASDAQ: AGFY) - Marc Beginin launches Prodigy Processing Solutions, a cannabis and hemp extraction equipment company, using funds from the sale of Precision Extraction Solutions. Prodigy's flagship product, the ProX, promises unrivaled processing speeds, user-friendly operation, and maximum return on investment. The machinery is proudly manufactured in the U.S. using pharmaceutical-grade stainless steel.
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End-of-Day
-4.79%
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Agrify Corporation
Nasdaq:AGFY
AGFY Rankings
AGFY Stock Data
4.25M
928.86k
60.58%
0.89%
3.08%
Engineering & Construction
Industrials
United States of America
TROY
About AGFY
agrify corporation develops precision hardware and software grow solutions for the indoor agriculture marketplace. the company offers vertical farming units, integrated grow racks, and led grow lights; and non-proprietary products designed, engineered, and manufactured by third parties, such as air cleaning systems and pesticide-free surface protection products. it also provides associated services comprising consulting, engineering, and construction. the company was formerly known as agrinamics, inc. and changed its name to agrify corporation in september 2019. agrify corporation was founded in 2016 and is based in burlington, massachusetts.