Agrify, a subsidiary marijuana grower, has signed a final agreement to raise up to $135 million from debt financing to strengthen its balance sheet and support sustained growth. The Massachusetts based indoor agricultural technology developer said in a press release that $65 million would be available immediately at the end of the transaction under senior secured debt financing. Agrify produces hardware and software for the cultivation of cannabis and other crops. The company was listed in January 2021 and its shares are traded on Nasdaq, so it is traded in the name of agfy. Since then, additional funds have been raised and acquisitions have been carried out.
Source: mjbizdaily com/