Agrify to be acquired by Nature's Miracle in all-stock deal valued at ~$6.35M

RYTHM, Inc.

Each AGFY shareholder gets ~0.45 NMHI shares, valuing equity at $6.35M based on NMHI's $0.93 close on 4/16.
Raymond Chang (Agrify CEO) to become President of Agrify division and join NMHI board; one other director to join.
Deal expected to close within 6 months, subject to due diligence, shareholder approval, and customary conditions.
Nature's Miracle agrees to purchase $500k–$750k of LED lighting goods from Agrify prior to closing.
NMHI to purchase ~$13.1M of Agrify debt from Chang-controlled entities with cash and stock at closing and over 12 months.

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 Merger Term Sheet with Nature's Miracle Holding Inc. (effective 2024-04-17).

Action: entry
Counterparty: Nature's Miracle Holding Inc.
Effective: 2024-04-17

Exact text from the filing

On April 17, 2024, Agrify Corporation (the “Company”) entered into a term sheet (the “Merger Term Sheet”) with Nature’s Miracle Holding Inc., a Delaware corporation and Nasdaq listed entity (NASDAQ: NMHI) (“Nature’s Miracle”).

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RYTHM, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-034983

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