[PRESS RELEASE] – ROLLING MEADOWS, Ill., Aug. 27, 2025 – Agrify Corp. announced that it had acquired a portfolio of intellectual property, which included RYTHM and other brands such as Dogwalkers and Beboe, for US$50,000,000 paid via a convertible loan.
Green Thumb Industries has been licensed by the company to manufacture and sell the products. Agrify will also change its name to RYTHM Inc., and begin trading under the “RYM’ symbol on Nasdaq capital market at the opening of trading Sept. 2, 2020.
The company is positioning itself to be a market leader within the consumer well-being space with this acquisition. The company believes that as consumer policies and preferences change, this acquisition will position the firm for rapid growth in topline revenue through licensing revenues and increasing sales of hemp-derived THC product, such as the newly launched RYTHM beverages.
Ben Kovler stated that “RYTHM’s future looks bright, as we are in a good position to achieve revenue growth through both the sale of hemp-derived THC and licenses for brands.” As consumers look for alternatives to drinking alcohol, the demand for THC products is on the rise. Most importantly, THC is no longer only available in dispensaries. So, we are positioning the company to be at the perfect time and place, before material change. Our portfolio of brands, which now includes RYTHM, incredibles, Dogwalkers, Beboe, &Shine, Doctor Solomon’s and Good Green, in addition to Señorita, continues to deliver well-being to tens of thousands of Americans every day. I feel especially happy to announce this today. America, Find your RYTHM.”
After this transaction, approximately 2,000,000 shares of common stocks are outstanding. The company also has warrants that will convert to approximately 7.6,000,000 shares, as well as convertible notes which, when converted with interest and principal, would be approximately 6.7,000,000 shares. The CUSIP for the RYM stock is 00853E404.