TROY, Mich., Might 20, 2024 (GLOBE NEWSWIRE) — Agrify Company (Nasdaq: AGFY ) (“Agrify” or the “Firm”), a number one supplier of revolutionary cultivation and extraction options for the hashish trade, introduced right now that Agrify Company and Nature's Miracle Holdings Inc. (NASDAQ: NMHI) (“Nature's Miracle”) have mutually agreed to terminate the settlement and merger plan, beforehand introduced on Might 16, 2024, given unfavorable market situations.
In reference to the completion of the merger, Agrify and NMHI executed a termination settlement with respect to the merger settlement and in addition terminated a debt buy settlement with entities managed by the Chief Govt Officer of Agrify with respect to the 'acquisition of excellent debt. Every of the termination agreements comprises mutual releases.
Raymond Chang, Agrify's Chief Govt Officer and Chairman of the Board, stated: “Agrify continues to see sturdy momentum and quarter-over-quarter pipeline progress within the Cultivation and Extraction enterprise divisions. We imagine it’s within the Agrify's greatest curiosity to remain the course and proceed to carry out. Agrify's administration crew and Board are dedicated to persevering with to discover all strategic choices to create the very best worth for shareholders.
Supply: https://www.globenewswire.com/news-release/2024/05/20/2884774/0/en/Agrify-Company-Mutually-Agrees-to-Terminate-Plan-to-Merge-with-Nature- s-Miracle.html
