Kalera officially debuted on Nasdaq under the ticker KAL on June 29 after its merger with Agrico Acquisitions Corp, in a deal valuing the combined business at around $375mln. “Time in the market is better than timing the market,” says the CMO of US vertical farming company Kalera, which has recently gone public via a SPAC.
Aric Nissen was responding to a question from Future Food Finance about why Kalera had chosen to go down the SPAC route amid a cooling off of the SPAC market.
Kalera officially debuted on Nasdaq under the ticker KAL on June 29 after its merger with Agrico Acquisition Corp, in a deal valuing the combined business at around $375m. Nissen said: “Getting listed on Nasdaq was an incredibly proud moment for the team, a milestone for the company.
“It is very important for the brand because it’s really a platform for investors and consumers. It’s really going to help with our liquidity and our ability to meet the capital needs. We are solving a huge problem here, which is we are running out of farmland and our population is growing and we have climate change and so when you put those things together, we need new ways of growing food and Kalera’s technology is unrivalled in that sense. Time in the market is better than timing the market. We have a long-term view, we know this is a platform that we needed to be successful and we took the moment.”
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