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Kalera AS and Agrico Acquisition Corp. have announced a definitive merger agreement that will transition Kalera to a publicly listed company on NASDAQ, delisting from the Euronext Growth Oslo exchange. The all-stock transaction values the combined entity at approximately $375 million on a fully diluted basis, with Kalera shareholders receiving Agrico shares and Contingent Value Rights tied to future milestones. Agrico has $146.6 million in cash in trust to support Kalera’s expansion plans, which include increasing its footprint in the U.S. and internationally.
Agrico Acquisition Corp. successfully closed its initial public offering (IPO) on July 12, 2021, raising $143.75 million by selling 14,375,000 units at $10.00 each. The offering included 1,875,000 units from an over-allotment option. Each unit consists of one Class A ordinary share and one-half of a redeemable warrant, allowing the purchase of one share at $11.50. The units began trading on NASDAQ under the ticker symbol 'RICOU' on July 8, 2021. The company targets business combinations in agriculture, horticulture, and aquaculture sectors.
Agrico Acquisition Corp. has announced the pricing of its initial public offering (IPO) of 12.5 million units at $10.00 per unit, set to trade on NASDAQ under the ticker symbol RICOU starting July 8, 2021. Each unit includes one Class A ordinary share and a half warrant, with whole warrants allowing purchase at $11.50 per share. The IPO is expected to close on July 12, 2021, and the company has granted underwriters a 45-day option for additional units. Agrico focuses on potential mergers in agriculture, horticulture, and aquaculture sectors.
