KSLLF - KSLLF STOCK NEWS

Kalera AS, a leading vertical farming company, announced a secured convertible bridge financing facility of up to $20 million, with initial commitments of $10 million from key lenders including Lightrock and Canica AS. The funding will mature in one year and bears an 8% PIK interest rate, secured by the company’s assets. The lenders can convert the loan into shares post-merger with Agrico Acquisition Corp at $10.00 per share. Interim CEO Curtis McWilliams emphasized that this financing will enhance Kalera's operational capacity and align with long-term objectives.

Kalera AS has announced its fourth quarter 2021 results, showcasing a record revenue of $1.2 million, a remarkable 440% increase year-over-year, and a 53.2% rise quarter-over-quarter. However, the company reported an adjusted EBITDA loss of $(9.3) million compared to $(2.1) million in Q4 2020. Cash and cash equivalents decreased to $16.1 million from $113.9 million in 2020. The strategic acquisition of &ever GmbH was completed, and a merger with Agrico Acquisition Corporation was announced, aiming to raise $100 million for NASDAQ listing.

Kalera AS, a leading vertical farming company, has appointed Aric Nissen as its new Chief Marketing Officer. Nissen brings over 20 years of experience from roles at Restaurant Technologies and Subway, and will be pivotal in Kalera's marketing strategies during its global expansion. The company is experiencing significant growth, including the recent acquisition of &ever, which enhances its operational footprint in North America and beyond. Kalera employs innovative farming technologies that use 95% less water, positioning it as a key player in sustainable agriculture.

Kalera AS has announced the acquisition of &ever GmbH for an enterprise value of EUR 130 million, creating a global leader in vertical farming. The deal includes EUR 21.6 million in cash and 27.9 million shares, with Kalera shareholders retaining 87% ownership. This acquisition enhances Kalera's product offerings, including baby leaf greens, and expands its international footprint, particularly in the Middle East and Asia. The transaction is expected to close by September 2021, marking a significant step in Kalera's global growth strategy.

Kalera, a leading vertical farming company, has appointed Andrea M. Weiss as an adviser to its Board of Directors. Weiss, a seasoned director with extensive experience in digital transformation and corporate governance, will help prepare Kalera for a potential U.S. stock listing. With a successful background in the consumer and fashion industries, Weiss has held various leadership roles and served on multiple boards. Kalera operates multiple facilities, implementing innovative, sustainable farming methods that significantly reduce water use.

Kalera has proposed the appointment of Curtis McWilliams to its Board of Directors, expected to enhance its financial governance and oversight. McWilliams, with nearly 40 years of experience in corporate leadership, will also chair the Audit Committee. His background includes significant roles in mergers and acquisitions and real estate, notably growing Trustreet Properties from under $100 million to over $3 billion. This leadership change comes as Kalera expands into new markets and acquires Vindara Inc., aiming to strengthen its position in the vertical farming industry.

Kim Lopdrup has been appointed Chairman of Kalera as the company gears up for an international expansion and plans for a US stock listing. Renowned for his leadership at Red Lobster, Lopdrup's expertise is expected to guide Kalera through this pivotal phase. This announcement follows the recent appointments of Sonny Perdue and Maria Sastre to Kalera’s Board. With its cutting-edge vertical farming technology, Kalera aims to produce high-quality, pesticide-free vegetables while expanding its market reach across the US.

Kalera, a leader in vertical farming, recently celebrated the first harvest at its new facility in Atlanta, which spans 77,000 square feet. This is now the largest vertical farm in the Southeastern U.S., capable of producing over 10 million heads of lettuce annually. Opened in March 2021, the facility has begun operations in line with expectations, bolstered by strong sales from local retailers and food services. Kalera aims to reduce travel time for fresh produce deliveries while ensuring sustainable, high-quality greens supply across the region.

Kalera, a leading vertical farming company, announced the acquisition of a facility in St. Paul, Minnesota, which will be converted into a hydroponic farm. This will be Kalera's eighth facility, enhancing its position as one of the fastest-growing companies in the U.S. vertical farming sector. The facility is set to generate around 70 jobs and will supply fresh, non-GMO produce locally, significantly reducing delivery times. This project is pending state incentive approvals.