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Kalera Public Limited Company (Nasdaq: KAL) announces its second quarter 2022 earnings call scheduled for August 15, 2022, at 9:00 a.m. ET, following its recent listing on Nasdaq on June 29, 2022. The call reschedules from August 18, 2022, to accommodate US requirements after the delisting from the Euronext Growth Oslo Exchange. Kalera is focused on providing fresh, nutritious produce via vertical farming technology and operates farms in multiple US cities and Kuwait.
Kalera Public Limited Company (Nasdaq: KAL) has engaged Financial Profiles, Inc. as its investor relations firm to enhance its strategic investor relations program. CEO Jim Leighton highlighted the aim to raise awareness of Kalera's vertical farming model, positioning the company to capitalize on a market expected to reach $88 billion by 2028. Financial Profiles emphasizes Kalera's scale and technological advancements in the vital vertical farming industry, focusing on local, fresh greens. The company operates multiple farms in the U.S. and Kuwait with more under development.
Kalera Public Limited Company (Nasdaq: KAL) announced a securities purchase agreement with a single institutional investor to raise approximately $10.0 million. The deal involves a private placement of 2,500,000 shares of common stock, along with Series A and Series B Warrants, each priced at $4.00. The Series A Warrants are exercisable at $4.41 per share for two years, while Series B Warrants have a five and a half year term. Closing is expected on July 11, 2022. Maxim Group LLC acts as the placement agent for this offering.
Kalera Public Limited Company announced the completion of its business combination with Agrico Acquisition Corp. on June 29, 2022. The combined entity will trade under the symbols KAL and KALWW on Nasdaq. Following the merger, Kalera shareholders own approximately 90% of the new company, while Agrico shareholders own about 10%. Agrico has redeemed around 14.3 million ordinary shares. Additionally, 14,437,500 Agrico warrants were converted to Kalera Warrants, each exercisable at $11.50, and Kalera shareholders received 105,719,212 contingent value rights for future potential payments.
Kalera Public Limited Company has successfully completed its business combination with Agrico Acquisition Corp, which was approved by shareholders on June 28, 2022. The combined entity will continue to operate under the Kalera name and will start trading on Nasdaq with the symbol KAL from June 29, 2022. Kalera aims to expand its market presence, providing pesticide-free and non-GMO produce through advanced vertical farming technology designed for sustainable practices.