Agrify Closes Sale of its Cultivation Business

Core Insights - Agrify Corporation has completed the sale of its cultivation business to CP Acquisitions, LLC, simplifying its business model and balance sheet [1][2][3] - The transaction includes the sale of all assets related to Agrify's cultivation business, including Vertical Farming Units, turnkey solution assets, and software solutions [2] - The company aims to focus on growth categories tied to THC demand, particularly hemp-derived THC Delta 9 beverages, including its award-winning Señorita THC Margarita [3][4] Transaction Details - The sale agreement was signed and closed on December 31, 2024, with CP acquiring all cultivation-related assets and assuming liabilities [2] - The transaction also involves the termination of two convertible notes held by CP, totaling approximately $7 million [1] Future Focus - The company plans to concentrate on its Señorita brand, which offers low-calorie, alcohol alternative beverages, and aims for expansion in the market [3][4] - The separation of business segments is expected to allow both Agrify and CP to better focus their efforts moving forward [3]