[PRESS RELEASE] – ROLLING MEADOWS, Ill., Aug. 27, 2025 – Agrify Corp., a leading provider of branded innovative solutions for the cannabis and hemp industries, announced the acquisition of a portfolio of brand intellectual properties, including RYTHM, Dogwalkers, Beboe and others, from Green Thumb Industries for US$50 million paid for via a convertible note.
Concurrently, the company entered into an agreement to license the brands to Green Thumb Industries to manufacture and distribute. In addition, Agrify is changing its name to RYTHM, Inc. and will begin trading on the Nasdaq Capital Market under the symbol “RYM” as of the open of trading on Sept. 2, 2025.
This acquisition marks the company’s next step as it positions itself as a leader in the well-being consumer space. As consumer preferences and policies shift, the company expects that this transaction will strategically position it for rapid topline growth through licensing revenue and expanding sales of hemp-derived THC products, including the recently launched RYTHM Beverages.
“RYTHM’s future is bright as we are well-positioned to deliver revenue growth both in hemp-derived THC sales and brand licensing,” Chairman and Interim CEO Ben Kovler said. “Demand for THC is rising as consumers seek well-being and alternatives to alcohol. And most importantly, these THC products are no longer just available at the dispensary. Thus, we continue to position the business to be in the right place at the right time, ahead of 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. It feels especially good, today, to say Find Your RYTHM, America.”
Following this transaction, the company has approximately 2 million shares of common stock outstanding, warrants for approximately 7.6 million shares of common stock, and convertible notes that, if converted (principal and interest), would equal approximately 6.7 million shares of common stock. The CUSIP number for RYM common stock will remain 00853E404.
