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Vertical farming company Kalera ( NASDAQ: KAL ) has priced its public offering of 68M units at $0.13/unit for gross proceeds of approximately $8.84M.
Each unit consists of one ordinary share (or prefunded warrant in lieu thereof) and two warrants. The warrants will be immediately exercisable at a price of $0.13 per share and expire five years from the date of issuance.
The offering is expected to close on October 31, 2022.
Shares have plunged 58% premarket in response to the news