Agrify and Nature's Miracle have terminated the agreement and plan of merger, previously announced on May 16, 2024, given unfavorable market conditions.
Raymond Chang, Chief Executive Officer and Chairman of the Board of Agrify, stated, "Agrify continues to see strong momentum and pipeline growth quarter over quarter in both cultivation and extraction business divisions. We believe that it is in Agrify's best interest to stay the course and continue to execute. Agrify's management team and Board are committed to continuing to explore all strategic options in order to create the highest shareholder value."
For more information:
Agrify
www.agrify.com