Kalera AS Private placement successfully completed

Nachrichtenquelle: globenewswire
26.10.2020, 08:00  |  172   |   |   

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

OSLO, Norway, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Reference is made to the press release from Kalera AS (“Kalera” or the “Company”), (NOTC: KALERA, Bloomberg: KALERA or KSLLF) published on 21 October 2020 regarding a contemplated private placement (the “Private Placement”) and a subsequent listing on Merkur Market (the “Listing”).

Kalera is pleased to announce that the Private Placement has been successfully completed with a total transaction size of NOK 930 million (equivalent to approx. USD 100 million) through the allocation of 31,000,000 shares in the Company at a price of NOK 30.00 per share. The net proceeds from the Private Placement will be used to finance the construction of new facilities as part of the Company's roll-out plan for 2021 as well as for general corporate purposes. The Private Placement included participation from Nordic, continental European, UK, US and Australian institutional investors. This Private Placement comes in addition to about USD 60 million equity raised by Kalera earlier in 2020.

"It has been a rewarding several weeks meeting with investors, and we are excited about the interest for Kalera in the capital market and about our runway for continued expansion. We are quickly becoming an industry-leading company in indoor vertical farming, with an ability to deliver fresh, locally grown greens, nationally in the US. Today, we have two facilities in Orlando, and in 2021 we are going to open Atlanta, Houston and Denver. The new capital we have raised will enable us to realize our growth plan, where we have international ambitions," says Daniel Malechuk, CEO of Kalera.

The Private Placement consisted of 27,900,000 new shares (the “New Shares”) and an over-allotment of 3,100,000 additional shares (the “Additional Shares”), representing 10% of the shares allocated in the Private Placement. The Additional Shares will be settled by existing shares borrowed from Convexa AS, a company owned by the Chairman of the Board of Directors of the Company (the "Board"). The Company has granted Arctic Securities AS, acting as stabilisation manager on behalf of the Managers, an option to purchase, at a price of NOK 30.00 per share, a number of new shares equal to the number of Additional Shares to cover any short positions resulting from the over-allotment of the Additional Shares. The stabilisation manager may, in a period of 30 days from the first day of listing and in accordance with the principles of the EC Commission Regulation 2273/2003, close out such short position by buying shares in the open market with a view to supporting the market price of the shares. Net profits from any such stabilisation activities will be to the benefit of the Company.

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Disclaimer

Kalera AS Private placement successfully completed NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS …

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