Green Thumb sells brand IP to Agrify for $50M, licenses brands back, and extends $45M convertible note

Green Thumb Industries Inc.

Green Thumb sold VCP IP Holdings (brands: RYTHM, Beboe, Dogwalkers, Doctor Solomon's, &Shine, Good Green) for $50M cash.
Green Thumb licensed the brands back from Agrify, paying monthly fees based on product sales.
Green Thumb extended a $45M secured convertible note to Agrify (10% interest, maturity Feb 2027, conversion at $29.475/share).
Green Thumb owns 35% of Agrify; CEO Ben Kovler is also Chairman and Interim CEO of Agrify.

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