After the recent $13.8 million debt-to-equity conversions, Agrify has received confirmation from Nasdaq that it has regained compliance with the stockholders' equity requirement of minimum of $2.5 million in Listing Rule 5550(b)(1).
"We are very thankful that Nasdaq has confirmed that Agrify has regained compliance with the minimum stockholders' equity requirement. The $13.8 million debt-to-equity conversion is a very significant commitment from the management and the leading shareholders to ensure the ongoing Nasdaq listing. In the last few months, we have made tremendous progress towards cleaning up our balance sheet, reducing our cash burn, and growing our business. The work is not yet over, and we remain committed to ensuring a full turnaround and creating long term shareholder value."
For more information:
Agrify
www.agrify.com