Kalera Public Limited Company announced that it has entered into a securities purchase agreement with a single institutional investor to raise approximately $10 million through the private placement of 2,500,000 shares of common stock, 2,500,000 Series A warrants and 2,500,000 Series B warrants on July 7, 2022. Each share of common stock is being sold together with accompanying warrants at a combined effective purchase price of $4.00. The Series A warrants will be exercisable six months from the date of issuance at an exercise price of $4.41 per share and will expire two years from the date of issuance.

The Series B warrants will be exercisable six months from the date of issuance at an exercise price of $4.41 per share and will expire five and a half years from the date of issuance. The transaction is expected to close on July 11, 2022.