Agrify amends pre-funded warrants held by CEO-affiliated entities, removing adjustment provisions and delaying exercise.

RYTHM, Inc.

On Sept 27, 2024, Agrify amended CP Warrant and GIC Warrant to remove adjustment provisions that would increase shares upon equity financings.
The amendments also prohibit any exercise of the warrants from Sept 27 to Oct 9, 2024.
As a result of prior adjustments, CP Warrant now covers 81,784,320 shares and GIC Warrant covers 16,276,832 shares after Ionic Ventures issuance.
CP partially exercised on Aug 30 for 5,746,900 shares, assigning them to entities affiliated with CEO Raymond Chang and director I-Tseng Jenny Chan.

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