Agrify Corporation Sells Assets, David Kessler Steps Down as Chief Science Officer

Agrify Corporation (NASDAQ: AGFY) recently announced in an 8-K filing that the company has sold certain assets related to its Vertical Farming Unit business in a deal referred to as the “Asset Sale.” The assets were sold to CP Acquisitions, LLC (CP) on December 31, 2024.

As a result of this asset sale, David Kessler has stepped down from his roles within the company. Kessler previously served as Agrify Corporation’s Chief Science Officer, Executive Vice President, and General Manager of Cultivation. His resignation from these positions became effective on the date of the asset sale.

This development signifies a strategic shift for Agrify Corporation as it refocuses its operations following the asset sale. The company’s Chairman, Benjamin Kovler, has taken on the role of Interim Chief Executive Officer in light of these changes.

These recent modifications within Agrify Corporation highlight the company’s commitment to adapting its structure to align with its evolving business strategies. Investors and stakeholders are likely to follow these developments closely to gauge the impact on the company’s future performance and growth trajectory.

For further details and updates on Agrify Corporation, interested parties can refer to the official 8-K filing submitted to the Securities and Exchange Commission on January 7, 2025.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Agrify’s 8K filing here.

Agrify Company Profile

Agrify Corporation offers hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. It offers vertical farming units and Agrify Insights Software-as-a-Service software; integrated grow racks and LED grow lights; and non-proprietary products designed, engineered, and manufactured by third parties, such as air cleaning systems and pesticide-free surface protection products.