Cannabis tech company Agrify Corp. said it will keep its listing on the Nasdaq for now as it works to meet the exchange’s requirements surrounding minimum stockholders’ equity.
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The Wednesday listing news follows several developments reported by Agrify last week, which include:
Boosting its maximum number of authorized shares from 10 million to 35 million. Consolidating debt held by its new lender, CP Acquisitions (affiliated with Agrify CEO and board Chair Raymond Chang and board member I-Tseng Jenny Chan), into one convertible note, with $3.9 million of that debt converted into equity at a premium. A previous secured lender exercising warrants in exchange for shares, “thus greatly reducing the number of outstanding warrants.”
Agrify said last week that those moves
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