Agrify prices $2.6M public offering of 6.7M shares at $0.38/share

RYTHM, Inc.

Priced public offering of 6,723,684 shares/pre-funded warrants at $0.38/share for gross proceeds of ~$2.6M.
Net proceeds ~$2.2M after 7.0% placement agent fee and expenses; proceeds for working capital, capex, and debt repayment.
CEO Raymond Chang participated on same terms; Alexander Capital LP is sole placement agent.
Pre-funded warrants exercisable immediately; beneficial ownership cap at 4.99% (can increase to 9.99% with 61 days' notice).
Offering expected to close Feb 28, 2024; placement agent receives warrants for 1% of securities sold.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RYTHM, Inc. entered into Agency Agreement with Alexander Capital, LP (effective 2024-02-27).

Action: entry
Agreement: equity purchase
Counterparty: Alexander Capital, LP
Effective: 2024-02-27

Exact text from the filing

On February 27, 2024, Agrify Corporation (the “Company”) entered into a placement agency agreement (the “Agency Agreement”) with Alexander Capital, LP as placement agent (the “Placement Agent”), pursuant to which the Company agreed to issue and sell an aggregate of 2,760,000 shares of its common stock, and, in lieu of common stock to certain investors that so chose, pre-funded warrants (the “Pre-Funded Warrants”) to purchase 3,963,684 shares of its common stock (the “Offering”).

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290 material agreements filed in the last 30 days. Browse all material agreements →

RYTHM, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-017786

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