Kalera Public Ltd Co: M&A transaction — Kalera sells Vindara seed unit to Sandton Capital for ~$3.99M, including debt forgiveness

Kalera Public Ltd Co

Kalera SA sold 100% of Vindara Inc. to Sandton Capital Solutions Master Fund V, L.P. effective May 5, 2023.
Purchase price ~$3.99M, including forgiveness of $3.3M debt owed by Kalera Inc. to Farm Credit of Central Florida.
Vindara is a seed development company for indoor farming; the sale removes a subsidiary from Kalera's balance sheet.
Kalera's ordinary shares (KALRQ) and warrants (KALWQ) trade on OTC Pink.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Kalera Public Ltd Co completed a disposition involving SANDTON CAPITAL SOLUTIONS MASTER FUND V, L.P. for approximately $3.99 million (closed 2023-05-05).

Action: disposition
Counterparty: SANDTON CAPITAL SOLUTIONS MASTER FUND V, L.P.
Consideration: approximately $3.99 million
Closing: 2023-05-05

Exact text from the filing

Effective May 5, 2023, Kalera sold 100% the Transferred Shares contemplated in the SPA described in Item 1.01 above. The purchase price for the Transferred Shares was approximately $3.99 million, which included Purchaser’s forgiveness of Kalera Inc.’s $3,300,000 debt to Purchaser, subject to certain adjustments as set forth in the SPA.

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Source: SEC EDGAR

accession 0001493152-23-016272

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