Agrify Corporation Closes on Acquisition of Señorita
Agrify (NASDAQ: AGFY) has completed its acquisition of Señorita brand assets from Double or Nothing , expanding into the hemp-derived THC beverage market. The transaction involved 530,000 shares of Agrify common stock. Señorita, created by winemakers Charles Bieler and Joel Gott, offers THC-infused drinks as alcohol alternatives, currently featuring Lime Jalapeño and Mango Margarita flavors.
The brand plans to launch Paloma in January and Ranch Water in 2025. Señorita products are available in nine U.S. states and Canada through major retailers like Total Wine, ABC Fine Wine & Spirits, and Binny's. Post-acquisition, Agrify has approximately 2.0M common shares outstanding and 7.6M warrants.
Agrify (NASDAQ: AGFY) ha completato l'acquisizione delle attività del marchio Señorita da Double or Nothing, espandendosi nel mercato delle bevande a base di THC derivato dalla canapa. La transazione ha comportato 530.000 azioni ordinarie di Agrify. Señorita, creata dai produttori di vino Charles Bieler e Joel Gott, offre bevande infuse con THC come alternative all'alcol, attualmente disponibili nei gusti Lime Jalapeño e Mango Margarita.
Il marchio prevede di lanciare Paloma a gennaio e Ranch Water nel 2025. I prodotti Señorita sono disponibili in nove stati degli Stati Uniti e in Canada attraverso grandi rivenditori come Total Wine, ABC Fine Wine & Spirits e Binny's. Dopo l'acquisizione, Agrify ha circa 2,0 milioni di azioni ordinarie in circolazione e 7,6 milioni di warrant.
Agrify (NASDAQ: AGFY) ha completado la adquisición de los activos de la marca Señorita de Double or Nothing, expandiéndose en el mercado de bebidas con THC derivado del cáñamo. La transacción involucró 530,000 acciones ordinarias de Agrify. Señorita, creada por los enólogos Charles Bieler y Joel Gott, ofrece bebidas infusionadas con THC como alternativas al alcohol, que actualmente cuentan con los sabores de Lima Jalapeño y Mango Margarita.
La marca planea lanzar Paloma en enero y Ranch Water en 2025. Los productos Señorita están disponibles en nueve estados de EE. UU. y en Canadá a través de grandes minoristas como Total Wine, ABC Fine Wine & Spirits y Binny's. Después de la adquisición, Agrify tiene aproximadamente 2,0 millones de acciones ordinarias en circulación y 7,6 millones de warrants.
Agrify (NASDAQ: AGFY)는 Double or Nothing으로부터 Señorita 브랜드 자산을 인수하여 대마 유래 THC 음료 시장에 진출했습니다. 이번 거래에는 Agrify 보통주 53만 주가 포함되었습니다. 와인 메이커인 Charles Bieler와 Joel Gott이 만든 Señorita는 현재 Lime Jalapeño와 Mango Margarita 맛을 제공하며, 알콜 대안으로 THC가 주입된 음료를 제공합니다.
이 브랜드는 1월에 Paloma를 출시하고, 2025년에 Ranch Water를 출시할 계획입니다. Señorita 제품은 Total Wine, ABC Fine Wine & Spirits 및 Binny's와 같은 주요 소매업체를 통해 미국의 9개 주와 캐나다에서 구입할 수 있습니다. 인수 후, Agrify는 약 200만 주의 보통주와 760만 개의 워런트를 보유하고 있습니다.
Agrify (NASDAQ: AGFY) a finalisé l'acquisition des actifs de la marque Señorita auprès de Double or Nothing, s'étendant ainsi sur le marché des boissons au THC dérivées du chanvre. La transaction comprenait 530 000 actions ordinaires d'Agrify. Señorita, créée par les vignerons Charles Bieler et Joel Gott, propose des boissons infusées au THC comme alternatives à l'alcool, avec actuellement les saveurs Lime Jalapeño et Mango Margarita.
La marque prévoit de lancer Paloma en janvier et Ranch Water en 2025. Les produits Señorita sont disponibles dans neuf États américains et au Canada par le biais de grands détaillants comme Total Wine, ABC Fine Wine & Spirits et Binny's. Après l'acquisition, Agrify a environ 2,0 millions d'actions ordinaires en circulation et 7,6 millions de bons de souscription.
Agrify (NASDAQ: AGFY) hat die Übernahme der Markenwerte von Señorita von Double or Nothing abgeschlossen und sich damit im Markt für THC-Getränke aus Hanf expandiert. Die Transaktion umfasste 530.000 Agrify-Stammaktien. Señorita, kreiert von den Winzern Charles Bieler und Joel Gott, bietet THC-infundierte Getränke als alkoholische Alternativen an, die derzeit die Geschmäcker Lime Jalapeño und Mango Margarita aufweisen.
Die Marke plant, Paloma im Januar und Ranch Water im Jahr 2025 auf den Markt zu bringen. Señorita-Produkte sind in neun US-Bundesstaaten und Kanada über große Einzelhändler wie Total Wine, ABC Fine Wine & Spirits und Binny's erhältlich. Nach der Übernahme hat Agrify etwa 2,0 Millionen ausgegebene Stammaktien und 7,6 Millionen Warrants.
- Expansion into fast-growing hemp-derived THC beverage market
- Established distribution network across 9 U.S. states and Canada
- Award-winning product line with planned expansion (Paloma and Ranch Water)
- Strategic acquisition completed with stock, preserving cash
- Share dilution from issuing 530,000 new shares
- Company exploring alternatives for core extraction and cultivation businesses
- Significant shift from original business model
Insights
The acquisition of Señorita represents a strategic pivot for Agrify, diversifying from its traditional cultivation and extraction equipment business into the rapidly growing hemp-derived THC beverage market. The deal structure, using 530,000 shares of stock, preserves cash while expanding into a high-margin consumer products segment. With 2.0M shares outstanding post-transaction, this represents roughly
The hemp-derived THC beverage market represents a significant growth opportunity, positioned at the intersection of two major consumer trends: the shift away from alcohol and increased cannabis acceptance. Señorita's premium positioning and award-winning status in the Cannabis Cup demonstrates product-market fit. Distribution through major retailers like Total Wine and ABC Fine Wine & Spirits provides immediate scale and visibility. The planned expansion with Paloma and Ranch Water flavors targets popular drink categories, particularly appealing to health-conscious consumers seeking alcohol alternatives. The low-calorie Ranch Water variant specifically addresses the growing "better-for-you" beverage segment.
TROY, Mich., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq: AGFY) (“Agrify” or the “Company”), a leading provider of branded innovative solutions for the cannabis and hemp industries, has closed on its previously announced acquisition of certain assets from Double or Nothing LLC, the owner and creator of the Señorita brand of hemp-derived THC (“HD9”) drinks.
“This is great news for Agrify shareholders! We believe Señorita is the best tasting drink in the fastest growing, most exciting beverage category in the country,” said Agrify Chairman and Interim CEO Ben Kovler. “Cannabis-based beverages like Señorita deliver consumers an enjoyable experience without the downsides of alcohol. This high demand is propelling Señorita founders Joel Gott and Charles Bieler with the team towards innovation and product development as we launch Paloma in January and Ranch Water later in 2025. Given our enthusiasm for HD9 drinks, the Agrify Board continues to explore a variety of alternatives for the extraction and cultivation businesses within the Company while focusing on optimizing shareholder value creation.”
Señorita was designed and formulated by world-class winemakers Charles Bieler and Joel Gott. Recognizing a growing generational demand for adult beverage alternatives, Bieler and Gott gave the classic margarita a modern twist—replacing alcohol with THC to create a delightful, hangover-free beverage alternative. Through the use of all-natural, premium ingredients like organic Mexican agave, fresh lime juice and sweet, tangy mango, Señorita quickly gained acclaim, taking home the top spot in The High Times Cannabis Cup just one year after inception. Gott and Bieler continue to collaborate on the brand with Kovler and the Agrify team.
“We’re incredibly excited about the energy and momentum Ben and the team have brought to the Señorita business,” said Señorita co-founder Charles Bieler. “When Joel and I created this unique brand, we always anticipated rapid growth, exciting new products and expanded distribution, and now those goals are coming to fruition even faster than we imagined. Paloma and Ranch Water are just the beginning, and we cannot wait for even more Americans to experience Señorita THC drinks.”
Señorita currently offers two award-winning flavors – classic Lime Jalapeño Margarita and Mango Margarita. The brand’s third flavor, Paloma, will launch in January and will bring together Ruby Red grapefruit, lime, and pomelo, offering consumers another refreshing flavor profile with the same vacation vibe and fresh taste consumers love. A fourth flavor, low-calorie Ranch Water, will debut in 2025.
Señorita’s HD9 products are currently available at top retailers including Total Wine, ABC Fine Wine & Spirits, and Binny’s in nine U.S. states and Canada. Products are also available for direct-to-consumer purchase where permissible under state law at senoritadrinks.com.
This acquisition of certain Canadian and U.S. hemp-derived assets from Double or Nothing LLC, the owner and creator of the Señorita HD9 beverages, as previously disclosed, was done in exchange for 530,000 shares of Agrify common stock or common stock equivalents. Following the transaction, Agrify has approximately 2.0M common shares outstanding and 7.6M warrants.
About Agrify (Nasdaq:AGFY)
Agrify Corporation (“Agrify” or the “Company”) is a developer of branded innovative solutions for the cannabis and hemp industries in extraction, cultivation and more. Agrify’s proprietary micro-environment-controlled Vertical Farming Units (VFUs) enable cultivators to produce the highest quality products with unmatched consistency, yield, and return on investment at scale. Agrify’s comprehensive extraction product line, which includes hydrocarbon, ethanol, solventless, post-processing, and lab equipment, empowers producers to maximize the quantity and quality of extract required for premium concentrates. For more information, please visit Agrify at http://www.agrify.com.
About Señorita
Designed and formulated by best friends and world-class winemakers Charles Bieler and Joel Gott, Señorita is known for its clean, fresh taste and commitment to high-quality, natural ingredients. Señorita offers a low-sugar, low-calorie alternative to alcoholic beverages. Señorita’s HDT products are currently available to purchase at brick-and-mortar locations in Canada and nine U.S. states, including Alabama, Florida, Georgia, Illinois, Louisiana, Minnesota, Ohio, Tennessee and Wisconsin, with plans for expansion across additional states. Products are also available for direct-to-consumer purchase where permissible under state law via senoritadrinks.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Agrify and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements including, without limitation, statements regarding the potential future market for HD9 beverages, the ability to expand Señorita’s flavor options, distribution channels and markets and the expected timing thereof and the overall potential growth of the Señorita business.In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “coming,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Annual Report on Form 10-K filed for the year ended December 31, 2023 with the SEC, which can be obtained on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.
Contact
Agrify Investor Relations
IR@agrify.com
(857) 256-8110
FAQ
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