Summary by Moomoo AI
AgriFORCE Growing Systems Ltd. (AgriFORCE), a company specializing in intellectual property (IP) and technology for sustainable agriculture, has filed a prospectus supplement with the SEC under Rule 424(b)(5) for an equity distribution agreement with Maxim Group LLC (Maxim). The agreement allows AgriFORCE to offer and sell up to $3,080,000 of its common stock through Maxim, acting as a sales agent or principal. The common stock is traded on the Nasdaq Capital Market under the symbol 'AGRI.' As of September 9, 2024, the last reported sale price of AgriFORCE's common stock was $0.056 per share. The company is currently limited in the amount of securities it can sell under Form S-3 due to its public float value. The proceeds from the offering are intended for general corporate purposes, and the agreement includes a commission rate of 3.0% for Maxim. The prospectus supplement, dated September 10, 2024, also outlines risk factors, including investing in securities and the potential for significant risks.
