| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Agrify Corporation (NASDAQ:AGFY) provided an update on sales under its at-the-market equity program, which was established on October 18, 2022 with Canaccord Genuity (OTCPK:CCORF) serving as the sales agent. As of October 26, 2022, the company had sold a total of 6 million shares of common stock under the at-the-market program for aggregate gross proceeds of $15.40 million and net proceeds, after deducting commissions, of $14.94 million. As of October 26, 2022, the company had $34.60 million of remaining availability for future issuances of common stock under the at-the-market program.
The proceeds generated through the at-the-market program to date satisfy the terms set forth in the company’s credit facility with its institutional lender requiring that the company consummate a registered equity issuance for gross proceeds of at least $15.0 million prior to October 31, 2022. Agrify intends to use the net proceeds derived from the at-the-market program for general corporate purposes, which may include capital expenditures and repayment of debt.
Get your daily dose of cannabis news on Benzinga Cannabis. Don’t miss out on any important developments in the industry.
Photo by Mackenzie Marco on Unsplash
Related News
Agrify Completes Credit Facility Modification
Agrify Q2 Revenue Grows 63.5% YoY, What About Net Loss?
Agrify Posed To Miss Annual Revenue Projections As Preliminary Q2 Sales Grow
