Kalera received a delisting notification from Nasdaq Stock Market advising the Company that Nasdaq would suspend trading of the Company’s common stock as of the opening of business on April 17, 2023. Nasdaq’s determination was based on the following: (i) Under Listing Rule 5101, the Company is a public shell, and that the continued listing of its securities is no longer warranted; and (ii) the Company has not filed its Form 10-K for the fiscal year ended December 31, 2022, with the Securities and Exchange Commission (“SEC”) and NASDAQ, therefore failing to comply with NASDAQ’s Listing Rule 5250(c)(2) for continued listing. In addition, since the Company’s common stock is subject to delisting, the Company’s warrants listed under the symbol KALWW no longer qualify for listing under Listing Rule 5560(a). At this time, the Company does not anticipate appealing Nasdaq’s determination.
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