Kalera, a Norwegian hydroponic vertical farming operator, has received a delisting notification from Nasdaq, which has advised the company that the trading of its common stock will be suspended as of the opening of business on April 17, 2023.

Nasdaq has decided to delist the securities of the company because the company is considered a public shell under Listing Rule 5101 and the company has not filed its Form 10-K for the fiscal year ended December 31, 2022, with the Securities and Exchange Commission (SEC) and Nasdaq, which violates Nasdaq’s Listing Rule 5250(c)(2) for continued listing. 

Furthermore, as a result of the delisting of the company's common stock, the warrants listed under the symbol KALWW are no longer eligible for listing under Listing Rule 5560(a). At this time, the company does not intend to appeal Nasdaq's decision.

Analyst QuickTake: Kalera signed a definitive agreement to merge with Agrico Acquisition Corp. in January 2022 to go public on Nasdaq , aiming to expand its presence in the vertical farming industry. However, the recent delisting notification from Nasdaq could adversely affect Kalera's access to public capital markets. Previously, Kalera was privately listed on the Euronext Growth Oslo stock exchange.