KAL - KAL STOCK NEWS

Kalera Public Limited Company (Nasdaq: KAL) has announced the pricing of a public offering of approximately $8.84 million through the sale of 68,000,000 units at $0.13 per unit. Each unit comprises one ordinary share (or prefunded warrant) and two warrants, immediately exercisable at the same price and expiring in five years. The offering's closing is expected around October 31, 2022. Maxim Group LLC is the sole placement agent. This offering is part of Kalera's strategy to enhance its vertical farming operations and meet increasing demand for sustainable produce.

Kalera Public Limited Company (Nasdaq: KAL, KALWW) announced plans to divest its subsidiary, Vindara, alongside its international business assets, including operations in Kuwait and Singapore. This strategic move aims to accelerate cash flow positivity for its U.S. farms while reducing capital requirements. CEO Jim Leighton highlighted that this aligns with their capital-light business model and will decrease monthly cash burn. Kalera focuses on sustainable vertical farming to provide fresh produce, leveraging advanced hydroponic technology.

Kalera Public Limited Company (Nasdaq: KAL) outlined its new strategy aimed at profitability during a recent virtual event. CEO Jim Leighton emphasized the company's leadership in vertical farming and consumer packaged goods. Kalera's farms use 95% less water and 99% less land compared to traditional farming, focusing on local markets for fresher produce. The company plans to increase its retail footprint, currently over 1,300 locations, and improve profitability by shifting product mixes and enhancing revenue potential from existing farms, projected to rise from $49 million to $72 million.

Kalera Public Limited Company (Nasdaq: KAL) is hosting a 90-minute Virtual Analyst and Investor Event on September 22, 2022, at 1:00 p.m. ET. The event aims to showcase opportunities in Controlled Environment Agriculture (CEA) and Kalera's unique Consumer Packaged Goods (CPG) strategy. Key presentations will be delivered by its senior management, including insights into operations, technology, and financial metrics. Attendees will have the chance to participate in a Q&A session following the presentation. The event will be broadcast live on Kalera's investor website.

Kalera Public Limited Company (Nasdaq: KAL) reported significant growth, announcing a 25% increase in its retail store count, reaching 1,370 stores, and is projected to surpass 40% growth by year's end. The company’s Denver farm is now operational, ahead of schedule, expanding its product offerings in the region. Kalera aims to capitalize on growing consumer demand for fresh produce, leveraging a new consumer-centric platform to enhance profitability and market share in the U.S. lettuce and microgreens segments.

Kalera Public Limited Company (Nasdaq: KAL) reported its Q2 2022 financial results, achieving $1.3 million in total revenue, up $0.8 million year-over-year. Foodservice revenue was $0.8 million, while retail revenue reached $0.5 million. However, the company incurred a net loss of $78.7 million, or $3.92 per diluted share, largely due to a one-time goodwill impairment of $64.3 million. Adjusted EBITDA was negative $14.1 million. Key developments included operational commencement at a new facility in Denver and a strategic partnership with US Foods.

Kalera Public Limited Company (Nasdaq: KAL) has rescheduled its second quarter 2022 earnings release to August 19, 2022, before the market opens. This delay allows additional time to complete its Quarterly Report on Form 10-Q, following its business combination with Agrico Acquisition Corporation on June 28, 2022, and subsequent Nasdaq listing on June 29. A conference call and audio webcast will take place on August 19 at 9:00 a.m. ET to discuss the results and answer questions.