Agrify Corporation Closes on Acquisition of Señorita

Core Viewpoint - Agrify Corporation has successfully completed the acquisition of certain assets from Double or Nothing LLC, which includes the Señorita brand of hemp-derived THC drinks, positioning the company to capitalize on the growing cannabis beverage market [1][5]. Group 1: Acquisition Details - The acquisition involved the exchange of 530,000 shares of Agrify common stock or equivalents, resulting in approximately 2.0 million common shares outstanding and 7.6 million warrants post-transaction [5]. - The assets acquired are primarily focused on the production and distribution of Señorita HD9 beverages, which are gaining popularity in the cannabis beverage sector [1][5]. Group 2: Product and Market Potential - Señorita is recognized for its innovative approach to adult beverages, offering THC-infused drinks that provide a hangover-free alternative to alcohol, appealing to a growing generational demand for such products [2][3]. - The brand currently offers two flavors, with plans to launch a third flavor, Paloma, in January 2025, and a fourth flavor, low-calorie Ranch Water, later in 2025 [3]. - Señorita products are available at major retailers across nine U.S. states and Canada, with direct-to-consumer sales where permitted, indicating a robust distribution strategy [4][7]. Group 3: Leadership and Vision - Agrify's leadership, including Chairman and Interim CEO Ben Kovler, expresses strong enthusiasm for the Señorita brand and its potential for innovation and product development [2][3]. - Co-founders of Señorita, Charles Bieler and Joel Gott, emphasize their commitment to rapid growth and expanding distribution, aligning with Agrify's strategic goals [3].