Microvast Holdings announces departure of chief financial officer
AgriForce Growing Systems Ltd. (NASDAQ:AGRI), a company specializing in prefabricated metal buildings and components, announced today several key executive changes and the issuance of equity securities. Effective May 1, 2025, Barrett Mooney has resigned as Chief Operating Officer to pursue other opportunities.
Additionally, the company disclosed that on May 1, 2025, two of its executive officers received unregistered shares of the company’s stock in lieu of cash compensation. David Welch, Chairman of the Board, was awarded 117,216 shares, and Jolie Kahn, CEO, received 142,555 shares. These transactions are exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended, and the shares are subject to lockup agreements in line with the January 16, 2025 Securities Purchase Agreement with certain institutional investors.
The company also referred to its January 2025 PIPE (private investment in public equity) financing, which is detailed in its Current Report on Form 8-K filed on January 16, 2025, and the associated Securities Purchase Agreement. Approval for this financing, which is Proposal Number 1 for shareholder approval in the Definitive Proxy Statement filed on May 5, 2025, includes shares that may be issued under any rights of participation held by Purchasers under both the Securities Purchase Agreement and the company’s 2022 Securities Purchase Agreement.
The information contained in this article is based on a press release statement.
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