Highlights;
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Agrify Corp. Announces Acquisition: Acquires a portfolio of brand intellectual properties (including RYTHM, Dogwalkers, Beboe, and others) from Green Thumb Industries for $50 million via a convertible note.
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Licensing Agreement: Agrify enters into a licensing agreement with Green Thumb Industries to manufacture and distribute the acquired brands.
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Name Change: The company will change its name to RYTHM, Inc. and begin trading on the Nasdaq Capital Market under the symbol “RYM” starting September 2, 2025.
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Strategic Positioning: The acquisition positions the company as a leader in the well-being consumer space, focusing on rapid growth through licensing revenue and expanded sales of hemp-derived THC products.
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Market Outlook: The company expects growth due to rising demand for THC products as alternatives to alcohol, with products increasingly available beyond dispensaries.
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Brand Portfolio: The portfolio now includes RYTHM, incredibles, Dogwalkers, Beboe, &Shine, Doctor Solomon’s, Good Green, and Señorita.
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Stock Details: Post-transaction, the company has approximately 2 million shares of common stock outstanding, warrants for 7.6 million shares, and convertible notes equivalent to 6.7 million shares if converted.
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CEO Statement: Chairman and Interim CEO Ben Kovler emphasizes the company’s strategic positioning for growth, with a focus on delivering well-being to consumers and capitalizing on shifting consumer preferences and policies.
Agrify Corp. Announces Strategic Acquisition and Name Change
Acquisition Details:
Agrify Corp., a leader in innovative solutions for the cannabis and hemp industries, has acquired a portfolio of brand intellectual properties, including RYTHM, Dogwalkers, Beboe, and others, from Green Thumb Industries. The transaction, valued at $50 million, was facilitated through a convertible note.
Licensing Agreement:
Concurrent with the acquisition, Agrify entered into a licensing agreement with Green Thumb Industries, enabling them to manufacture and distribute the acquired brands.
Name Change and Trading Update:
The company will officially change its name to RYTHM, Inc. and commence trading on the Nasdaq Capital Market under the ticker symbol “RYM” effective September 2, 2025.
Strategic Positioning:
This strategic move positions RYTHM, Inc. as a leader in the well-being consumer space, focusing on growth through licensing revenue and expanded sales of hemp-derived THC products, including the newly launched RYTHM Beverages.
CEO Insights:
Chairman and Interim CEO Ben Kovler remarked, “RYTHM’s future is bright, with strategic positioning for growth in both hemp-derived THC sales and brand licensing. As consumer demand for THC rises, we are poised to meet this demand beyond traditional dispensaries, positioning ourselves at the forefront of market change.”
Portfolio and Mission:
The company’s brand portfolio, now including RYTHM, incredibles, Dogwalkers, Beboe, &Shine, Doctor Solomon’s, Good Green, and Señorita, serves tens of thousands of Americans daily, embodying the mission to “Find Your RYTHM, America.”
Stock Information:
Post-transaction, RYTHM, Inc. reports approximately 2 million outstanding common stock shares, 7.6 million warrants, and convertible notes equivalent to about 6.7 million shares. The CUSIP number for RYM common stock remains 00853E404.
This structured approach ensures clarity and conciseness, highlighting the company’s strategic evolution and future prospects.
