Nature’s Miracle Holding Inc. and Agrify Corporation have signed a definitive merger agreement. As per the agreement, a new wholly-owned subsidiary of Nature’s Miracle will merge with Agrify, and Agrify will continue as a wholly-owned subsidiary of Nature’s Miracle. Agrify shareholders will receive 0.45 shares of Nature’s Miracle for each share held, leading them to own approximately 30% of the combined entity. Nature’s Miracle will also purchase and guarantee certain Agrify notes with both cash and stock. This merger aims to consolidate their vertical farming and cannabis extraction technologies, projecting a significant market share expansion and operational synergies. The transaction is expected to close in the second half of 2024, pending shareholder approval. Both companies’ CEOs anticipate substantial growth from the merger, leveraging their combined expertise and advanced technologies in indoor farming.

Agricultural Technology, Cannabis Industry, Public Companies,United States

https://www.globenewswire.com/news-release/2024/05/16/2883294/0/en/Nature-s-Miracle-and-Agrify-Corporation-Announces-Signing-of-the-Definitive-Merger-Agreement.html