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AGRIFY CORPORATION

(AGFY)
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AGRIFY CORP : Entry into a Material Definitive Agreement (form 8-K)

09/20/2021 | 04:32pm EDT

Item 1.01 Entry into a Material Definitive Agreement.

As previously disclosed, on January 27, 2021, Agrify Corporation (the "Company") entered into an Underwriting Agreement dated as of January 27, 2021 (the "Underwriting Agreement") with Maxim Group LLC, as representative of the underwriters named therein ("Maxim"), in connection with its initial public offering. On September 14, 2021, the Company entered into a Letter Agreement and Waiver dated September 14, 2021 (the "Letter Agreement"), to amend the terms of the Underwriting Agreement.

Pursuant to the Letter Agreement, Maxim agreed to waive the right of first refusal included in the Underwriting Agreement in consideration of (i) a cash payment to Maxim of $2.4 million to be paid via wire transfer within three (3) business days of the execution of the Letter Agreement; and (ii) the right to participate as a co-manager with ten percent (10%) of the economics with respect to the Company's next public offering of securities, payable in cash upon the closing of such offering. Except as specifically modified or amended by the terms of the Letter Agreement, the Underwriting Agreement and all provisions contained therein remain in full force and effect.

The foregoing description of the Letter Agreement is not complete and is qualified in its entirety by reference to the full text of the Letter Agreement, a copy of which is filed herewith as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference.



Exhibit
No.       Description
1.1         Letter Agreement and Waiver, dated September 14, 2021, by and between
          the registrant and Maxim Group LLC




                                       1

© Edgar Online, source Glimpses

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Analyst Recommendations on AGRIFY CORPORATION
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Financials (USD)
Sales 2021 58,0 M - -
Net income 2021 -22,0 M - -
Net Debt 2021 - - -
P/E ratio 2021 -15,6x
Yield 2021 -
Capitalization 373 M 373 M -
Capi. / Sales 2021 6,43x
Capi. / Sales 2022 2,90x
Nbr of Employees 66
Free-Float 88,2%
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Number of Analysts 4
Last Close Price 18,13 $
Average target price 34,67 $
Spread / Average Target 91,2%
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Managers and Directors
Raymond N. Chang Chairman, President & Chief Executive Officer
Niv Krikov Chief Financial Officer
David Kessler Chief Science Officer
Robert Harrison Chief Operating Officer
Thomas L. Massie Independent Director
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