Agrify Corporation (NasdaqCM:AGFY) entered into an equity purchase agreement to acquire Precision Extraction Solutions from Sinclair Scientific for $65 million on September 29, 2021. Agrify acquired Precision with a base purchase price of $50 million, consisting of $30 million of cash and $20 million in value of Agrify common stock, in each case subject to adjustments, escrows, and holdbacks as set forth in the definitive agreement. The total purchase price may be adjusted to up to $65 million based on the performance of the Precision businesses for the fiscal year ending December 31, 2021. The transaction is subject to approval under the HSR act and listing of shares issued by Agrify in the transaction on stock exchange. The transaction has been approved by Boards of Sinclair and Agrify. Alliance Global Partners acted as exclusive financial advisor to Agrify, and Frank A. Segall of Burns & Levinson LLP acted as its legal counsel. Embarc Advisors acted as exclusive financial advisor to Sinclair, and Patrick M. Moran of Peterson Russell Kelly PLLC acted as its legal counsel. Agrify Corporation (NasdaqCM:AGFY) completed the acquisition of Precision Extraction Solutions from Sinclair Scientific on October 1, 2021.