• Kalera, a Norwegian hydroponic vertical farming operator, has announced that it is raising USD 10 million via a private placement with a single institutional investor (name undisclosed). Maxim Group LLC will be the agent facilitating the private placement. 

• Kalera is offering a private placement of 2.5 million shares of common stock, which will be sold together with 2.5 million Series A warrants and 2.5 million Series B warrants at a combined price of USD 4 per share. The Series A and Series B warrants will be exercisable within six months following the closing date at a price of USD 4.41 per share but will expire in two years and five-and-a-half years, respectively. The offering is expected to close on July 11, 2022, subject to customary closing conditions.

<ul><li> Analyst QuickTake: This is the third fundraising announcement Kalera has made in 2022, raising USD 60 million within the year thus far. Previously, the company secured two credit facilities to support capital expenditure and working capital needs: 1) a convertible bridge financing facility for up to USD 20 million ( March 2022 ) and 2) a 10-year USD 30 million senior secured note facility ( April 2022 ).</ul>