Nasdaq extends stay of suspension for marijuana tech firm Agrify

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Agrify Corp. says the Nasdaq stock exchange has extended a stay on suspending the marijuana technology company’s listing until after a formal hearing.

That stay “will be extended until a hearing before the panel and issuance of a final panel decision,” Agrify said in a Wednesday news release.

Agrify was formally notified in October that it was out of compliance with Nasdaq listing rules because it was late to file several financial reports.

If unaddressed, that problem could ultimately lead to Agrify’s delisting from the Nasdaq.

The Troy, Michigan-based company said it still plans to finish the missing reports and get them audited before filing.

“There can be no assurance that Agrify will be able to file the delinquent reports within the extension period granted by the panel,” said Agrify.

Shares of Agrify continue to trade on the Nasdaq as AGFY.

The company consolidated its shares in July to maintain its Nasdaq listing.