Agrify Corp Rebrands to RYTHM Inc Following $50M Green Thumb Brands Portfolio Acquisition

CHICAGO – Agrify Corporation has acquired a portfolio of intellectual property from Green Thumb Industries (GTI) for $50 million, including cannabis brands like RYTHM, Dogwalkers, Beboe, incredibles, &Shine, Doctor Solomon’s, Good Green, and Señorita. Concurrently, Agrify announced it will rebrand as RYTHM, Inc., with its Nasdaq-listed shares trading under the ticker RYM starting September 2.

The deal, structured as a related-party transaction due to shared leadership and Green Thumb’s 35% ownership in Agrify, includes a licensing agreement allowing GTI to continue manufacturing and distributing the brands for monthly fees based on sales. Agrify funded the purchase with a $50 million convertible note at 10% interest, convertible into shares at $29.475 each, potentially deepening Green Thumb’s stake in the rebranded company.

Analysts view the transaction as a financial maneuver enabling GTI to monetize brand assets while Agrify pivots toward consumer products, including hemp-derived THC beverages. Agrify’s stock rose 14.7% in pre-market trading, signaling investor optimism, though concerns linger about share dilution and integration risks. Social media reactions highlighted excitement for broader brand access alongside skepticism about short-term volatility.

Generally, this move reflects a broader industry trend of separating brand assets from regulated operations to streamline compliance and capital strategies. The deal positions Agrify to leverage established brands for growth, while GTI maintains operational control.