--- schema_version: "secwatch.filing_event.v1" accession: "0001493152-23-010745" form_type: "8-K" ticker: null cik: "0001909152" company_name: "Kalera Public Ltd Co" filed_at: "2023-04-04T23:59:59+00:00" generated_at: "2026-06-17T06:39:22.041145+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 0.9 calibrated_materiality_score: 0.9 confidence: "high" source: SEC EDGAR --- # Kalera's main subsidiary files Chapter 11; CEO Leighton departs, $5.1M DIP financing sought ## Summary - Kalera, Inc. filed voluntary Chapter 11 petition in Southern District of Texas on April 4, 2023; case No. 23-90290. - CEO Jim Leighton resigned effective March 29, 2023; Mark Shapiro of B. Riley appointed Chief Restructuring Officer. - Debtor-in-possession financing of $5.1 million from Sandton Credit Solutions, subject to Bankruptcy Court approval. - Loan agreement with Farm Credit/Sandton triggered event of default upon filing; obligations accelerated but stayed by bankruptcy. - Company unable to file FY2022 Form 10-K by March 31 deadline; no estimate for filing date. ## SEC filing metadata - accession: 0001493152-23-010745 - form_type: 8-K - cik: 0001909152 - company_name: Kalera Public Ltd Co - filed_at: 2023-04-04T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 0.9 - calibrated_materiality_score: 0.9 - confidence: high - sec_items: 1.03, 2.04, 5.02, 7.01, 8.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1909152/000149315223010745/0001493152-23-010745-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1909152/000149315223010745/form8-k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001493152-23-010745 - JSON: https://secwatch.observer/filing/0001493152-23-010745.json - Plain text: https://secwatch.observer/filing/0001493152-23-010745.txt ## Key facts - Debt Financings Kalera Public Ltd Co faced acceleration on loan with Sandton Credit Solutions Master Fund V, L.P.. - Instrument: loan - Counterparty: Sandton Credit Solutions Master Fund V, L.P. - Event: acceleration source text: The commencement of the Chapter 11 Case constituted an Event of Default that accelerates Kalera’s obligations under the Loan Agreement. The Loan Agreement provides that upon the Chapter 11 Case filing the unpaid principal and interest due under the Loan Agreement are automatically due and payable. evidence_url: https://www.sec.gov/Archives/edgar/data/1909152/000149315223010745/0001493152-23-010745-index.htm - Debt Financings Kalera Public Ltd Co incurred loan of $5.1 million with Sandton Credit Solutions Master Fund V, L.P.. - Instrument: loan - Principal: $5.1 million - Counterparty: Sandton Credit Solutions Master Fund V, L.P. - Event: incurrence source text: On April 4, 2023, Sandton (in such capacity, the “DIP Provider”) has agreed to provide to the Debtor debtor-in-position financing, pursuant to which, and subject to the satisfaction of certain customary conditions, including the approval of the Bankruptcy Court (which has not been obtained at this time), the DIP Provider agreed to provide loans in an aggregate principal amount of $5.1 million. evidence_url: https://www.sec.gov/Archives/edgar/data/1909152/000149315223010745/0001493152-23-010745-index.htm - Distress & Bankruptcy Kalera Public Ltd Co entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas (petition 2023-04-04). - Proceeding: chapter 11 - Court: United States Bankruptcy Court for the Southern District of Texas - Petition: 2023-04-04 source text: On April 4, 2023, Kalera, Inc. ("Kalera" or the "Debtor") an indirect wholly owned subsidiary of Kalera Public Limited Company ("Kalera PLC" or the "Company") filed a voluntary petition (the "Chapter 11 Case") in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") seeking relief under Chapter 11 of Title 11 of the United States Code (the "Bankruptcy Code"). The Chapter 11 Case is being administered under the caption In re Kalera, Inc. , Case No. 23-90290 evidence_url: https://www.sec.gov/Archives/edgar/data/1909152/000149315223010745/0001493152-23-010745-index.htm - Executive change Jim Leighton resigned as President and Chief Executive Officer at Kalera Public Ltd Co. - Action: resigned - Role: President and Chief Executive Officer source text: Effective as of March 29, 2023, Jim Leighton’s employment with the Company as President and Chief Executive Officer ended, so that Mr. Leighton could pursue other opportunities. evidence_url: https://www.sec.gov/Archives/edgar/data/1909152/000149315223010745/0001493152-23-010745-index.htm - Executive change Jim Leighton resigned as Director at Kalera Public Ltd Co. - Action: resigned - Role: Director source text: Mr. Leighton also resigned as a member of the Company’s Board of Directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1909152/000149315223010745/0001493152-23-010745-index.htm - Executive change Mark Shapiro was appointed as Chief Restructuring Officer at Kalera Public Ltd Co. - Action: appointed - Role: Chief Restructuring Officer source text: The Company has appointed Mark Shapiro, Senior Managing Director at B. Riley Advisory Services, as Chief Restructuring Officer. evidence_url: https://www.sec.gov/Archives/edgar/data/1909152/000149315223010745/0001493152-23-010745-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.