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Agrify Seeks $25 Million IPO For Indoor Agriculture Growth Plan

Written by: Donovan Jones Marketplace

Author of IPO Edge.

Dec. 28, 2020

Agrify Corporation (AGFY)

Summary

  • Agrify has filed to raise $25 million in an IPO.

  • The firm sells proprietary products and software to the indoor vertical farming market.

  • AGFY has grown quickly from a very small revenue base and the industry has promising growth prospects.

Quick Take

Agrify (AGFY) has filed to raise $25 million in an IPO of its common stock, according to an S-1 registration statement.

The firm develops products and related services for the indoor agriculture market.

AGFY is a still tiny firm growing topline revenue quickly while operating in a promising industry.

I’ll provide an update when we learn more about the IPO from management.

Company & Technology

Burlington, Massachusetts-based Agrify was founded to provide proprietary hardware and software to enhance the efficiency of indoor agriculture operations.

Management is headed by CEO Raymond Change, who has been with the firm since 2019 and was previously the founder of GigaMedia (GIGM).

Below is a brief overview video of a vertical farming operation:

To read the full article, please click here.

Note: This report is intended for educational purposes only and is not financial, legal or investment advice. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. You should perform your own research before making any decisions. IPO investing carries significant volatility and risk of loss.

Editor's Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.