Agrify receives positive Nasdaq listing notice

Agrify Corporation announced that the Company has received formal notification that the Nasdaq Hearings Panel has granted the Company’s request for continued listing on The Nasdaq Capital Market pursuant to an extension through April 15, 2024, to evidence compliance with Nasdaq Listing Rule 5550(b)(1), which requires listed companies to have a stockholders’ equity of at least $2.5 million for continued listing on The Nasdaq Capital Market. The Company earlier received notice from the Listing Qualifications Staff of Nasdaq indicating that the Company no longer satisfied the Rule and was therefore subject to delisting. In response, the Company timely requested a hearing before the Panel, which request stayed any further action by the Staff. The hearing was held on January 11, 2024.