Kalera AS

Private placement successfully completed - Seite 2

The Company has agreed to a customary lock-up arrangement with the Managers (as defined below) that will restrict, subject to certain exceptions, their ability to, without the prior written consent of the Managers, issue, sell or dispose of shares, as applicable, for a period of 90 days from the Listing.

The issuance of the New Shares will be resolved by the Board when the authorization to increase the Company's share capital granted to the Board at the extraordinary general meeting held on 23 October 2020 has been registered in the Norwegian Register of Business Enterprises, which is expected to take place on or about 26 October 2020.

Allocation to investors will be communicated on or about 26 October 2020. The Private Placement will be settled by the Managers on a delivery-versus-payment basis on or about 28 October 2020 following registration of the share capital increase pertaining to the issuance of the New Shares in the Norwegian Registry of Business Enterprises and the issuance of the New Shares in VPS. The delivery-versus-payment settlement in the Private Placement is facilitated by a pre-funding agreement between the Company and the Managers.

The Company has applied for, and will, subject to the necessary approvals from the Oslo Stock Exchange, list the shares of the Company on Merkur Market (the “Listing”). The first day of trading on Merkur Market is expected to be on or about 28 October 2020 under the ticker code KAL-ME.

Advisors:

ABG Sundal Collier ASA and Arctic Securities AS (together the “Managers”) are acting as Joint Global Coordinators and Joint Bookrunners in connection with the Private Placement and Listing. Bank of America Merrill Lynch International is acting as financial advisor to the Company.

Advokatfirmaet Thommessen AS is acting as legal advisor to the Company, while Advokatfirmaet Schjødt AS is acting as legal advisor to the Managers.

For more information, please contact:

Bjørge Gretland, Chairman
Phone: [phone]
Email: [e-mail]

Daniel Malechuk, CEO
Phone: [phone]
Email: [e-mail]

Media contacts:
ASC Advisors
Steve Bruce / Taylor Ingraham
[e-mail] / [e-mail]
[phone]

Kalera in brief:

Kalera (NOTC: KALERA, Bloomberg: KALERA or KSLLF) is a technology driven vertical farming company with unique growing methods combining optimized nutrients and light recipes, precise environmental controls, and clean room standards to produce safe, highly nutritious, pesticide-free, non-GMO vegetables with consistent high quality and longer shelf life year-round. Kalera's high-yield, automated, data-driven hydroponic production facilities have been designed for rapid rollout with industry-leading payback times to grow vegetables faster, cleaner, at a lower cost, and with less environmental impact.