Kalera admitted to trading

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Oslo, 28 October 2020 – Kalera has today been admitted to trading on Merkur Market. The vertical farming company plans to fuel its rapid US and international expansion.

Kalera, one of the fastest growing vertical farming companies in the United States, has raised NOK 930 million (equivalent to approx. USD 100 million) as part of the listing on Merkur Market. 

“We have experienced a great interest for Kalera in the financial market and are excited that the private placement has been successfully completed with a total transaction size of NOK 930 million through the allocation of 31 million shares in the company”, said Daniel Malechuk, CEO of Kalera. 

Today, the company has two facilities in Orlando, and is going to open new facilities in Atlanta, Houston and Denver in 2021. Kalera intends to use the net proceeds from the private placement to finance construction of new facilities, in both the US and internationally, as part of the company's rollout plan for 2021, as well as for general corporate purposes. 

“Kalera now takes another step towards becoming a global leader within vertical farming, where we already are one of the fastest growing companies in the world. We grow fresh, clean and secure vegetables 300 times more efficiently and with 95 percent less water than traditional farming”, said Malechuk.

The shares in the offering were sold at NOK 30 per share, corresponding to an equity value of NOK 4.83 billion.

About Kalera  Kalera 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. www.kalera.com

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