2023-03-09 08:26:31 ET
- Provider of innovative cultivation and extraction solutions for the cannabis industry, Agrify ( AGFY ) to amend its existing credit facility .
- Under the transactions, outstanding principal will be reduced from ~$32M to ~$11.675M after the repayment and exchange.
- Expected interest expense savings of ~$1M annually.
- Elimination of working capital and restricted cash covenants to allow the Company more flexibility to pursue future growth.
- Revision of merger & acquisition covenant to permit acquisitions using stock as consideration
For further details see:
Agrify modifies its credit facility