AGFY - Cannabis Merger Canceled: Nature's Miracle And Agrify Terminate Agreement Citing Unfavorable Market Conditions | Benzinga
Nature’s Miracle Holding Inc. (NASDAQ:NMHI), a vertical farming technology and infrastructure provider, and Agrify Corporation (NASDAQ:AGFY), a leader in cultivation and extraction technologies for the cannabis industry, have mutually agreed to terminate their previously announced merger plan due to unfavorable market conditions. The decision, announced Monday, comes just four days after the merger plan was initially revealed.
Termination Agreements Executed With No Fees
Both companies have executed termination agreements with mutual releases, canceling all prior agreements without any termination or cancellation fees. This also includes the cessation of Nature’s Miracle’s acquisition of Agrify’s outstanding debt.
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