Kalera Public Limited and Agrico Acquisition completed their business combination, following approval by the SPAC’s shareholders yesterday.
Kalera begins trading on the Nasdaq today under the new ticker symbol KAL.
No word in the press release on redemptions, if any.
Agrico had $146.6 million cash in trust at the time the deal was announced in January. The transaction at that time gave the combined company an equity value of $375 million.
Kalera waived the $100 million minimum cash closing condition last month, although the company also said at the time if the minimum cash is not satisfied upon consummation of the business combination, Agrico’s sponsor promote would be proportionally forfeited.
Kalera bills itself as “a leafy green vertical farming company and leader in plant science for growing produce in controlled environments.” Read more.
