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Ian K. Patel, Citigroup veteran and Wharton MBA , Named CFO
Louisville, Colorado, March 15, 2022 (GLOBE NEWSWIRE) -- CEA Industries Inc. (NASDAQ: CEAD), a leader in controlled environment agriculture (CEA) systems engineering and technologies, announced today the appointment of Ian K. Patel as Chief Financial Officer and Treasurer of the Company, effective March 11, 2022.
“Ian brings a proven track record of delivering results and accelerating growth, and our Board of Directors and I are thrilled to welcome him to the executive management team,” said Tony McDonald, CEA Industries Chairman and CEO. “Ian’s extensive experience advising and leading organizations in their finance activities will serve our company and our shareholders well.”
Mr. Patel has extensive experience as a financial leader, having held several executive roles in the energy sector and investment companies and spearheading improved processes to their financial models and risk management compliance.
“I am excited to step into the CFO role at CEA Industries to support the company in its continued execution of its strategic plan, to accelerate growth and to deliver value to its shareholders,” said Mr. Patel.
Biographical Details
Ian Patel was most recently the Consultant CFO for Maxwell Financial Labs, Inc., a B2B SAAS mortgage servicer. At Maxwell he advised the company on their accounting and risk management processes, long and short-term financial models and led their capital raising efforts for subsidiary businesses.
Prior to Maxwell, he served as Vice President of Finance, Treasury and Investor Relations for Fourpoint Energy LLC, a $5 billion multi-strategy energy enterprise. At Fourpoint Energy he led finance, planning and risk management.
Before Fourpoint Energy, Mr. Patel served as CFO at True Oil Company, LLC / S&A Resources LLC, a private equity-backed oil and gas company. Prior to True Oil he was Director of Investment Banking at Citigroup Global Energy where he provided strategic advice to energy companies on issues including capital structure, M&A, and debt/equity capital raises.
Other positions Mr. Patel has previously held include Investment Banking Associate for Goldman Sachs & Co., and Corporate Lawyer, Mergers and Acquisition, for Debeovoise & Plimpton, LLP.
Mr. Patel holds an MBA from The Wharton School and a Juris Doctorate from Harvard Law School.
CEA Industries Names Ian Patel CFO
Can’t wait. Think they’ll be good given what’s already been communicated.
The way things are going Id say yes. Someone knows something
CEAD
$CEAD on the move. Should we see Q4/Full year this week?
Exactly. What 2.1mil contract? Oh, must be the one that brought the price back to almost .01 again. LOL
I would go into a rant about manipulation, but no here can hear worth a 5hit.
Can't blame others for profit-taking amidst fear of the 850,000,000-share turd blimp flying above. It needs to be shot down with haste.
What multi million dollar contracts?? Better show some good numbers Q4/full year next week. On the positive side this low floater can still fly on news
https://www.reddit.com/r/Shortsqueeze/comments/tavwot/cead_1million_floatoffering_closed_at_413warrants/
Click on his username and you can see all his $CEAD posts. He's doing the good work!
Can't find it. You have a direct link?
yes, yes indeed, huge interest. I will be however just hibernating now till it reaches $100 one day.
Always do your own DD!
The day traders are here. Look at the yahoo msg board for CEAD and you'll see all the links to their discords.
Here we have a stock with a 1.37M float, 7.42M outstanding shares and today we've traded over 12.6M shares!!!
A day trading range of $1.91 to $2.89- a trader's dream!
yes/ CEA Industries Inc (CEAD)
2.3592 ? 0.3092 (15.08%)
Volume: 9,837,050 @03/10/22 12:46:52 PM EST
Bid Ask Day's Range
2.35 2.36 1.91 - 2.89
CEAD Detailed Quote
Looking strong!
Could be a low float runner.
Surna Cultivation Technologies Signs $2.1 Million Contract
https://www.globenewswire.com/news-release/2022/03/10/2401054/0/en/Surna-Cultivation-Technologies-Signs-2-1-Million-Contract.html
CEA Industries Inc (CEAD)
1.9477 ? -0.1023 (-4.99%)
Volume: 51,544 @03/10/22 9:55:51 AM EST
Bid Ask Day's Range
1.95 1.99 1.91 - 2.13
CEAD Detailed Quote
More contracts, good to see
CEAD $$$$
Nice little rally today. Good to see she can still move easily. Should take off on some good news and/or upcoming Q4
another indoor farming article...
Living Greens Farm, Inc. announces significant expansion
Living Greens Farm, Inc. one of the largest indoor vertical aeroponic farms in the US, expands midwest operations with addition of new innovative indoor facility in Muncie, IN. New facility requires 95% less water and 99% less land than traditional farms. The 200,000 square foot building will produce the equivalent of two million acres of farmland.
http://www.livinggreensfarm.com
FARIBAULT, Minn., March 8, 2022 /PRNewswire/ — Living Greens Farm (LGF), one of the largest indoor vertical aeroponic farms in the US, announced it is expanding its Midwest operations with the addition of a new innovative indoor facility in Muncie, IN, for growing and processing a variety of better tasting leafy green product offerings.
Living Greens Farm, Inc. one of the largest indoor vertical aeroponic farms in the US, expands Midwest operations with addition of new innovative indoor facility in Muncie, IN. New facility requires 95% less water and 99% less land than traditional farms. The 200,000 square foot building will produce the equivalent of two million acres of farmland.
The all-new facility will open in early 2023 and will occupy a 200,000 square foot industrial building built in 2015 but yet to be occupied. The building will be turned into a state-of-the-art, vertical, aeroponic farm ultimately employing approximately 120 people. It will feature automation that helps growers fully realize the inherent natural potential of the crops grown there, while seeding, transplanting, harvesting, processing, and packaging these crops in an efficient, high-speed manner. It will produce the equivalent of two million acres of farmland.
Once the new indoor farm is fully constructed, it will have the capacity to grow and harvest five million pounds of leafy greens each year without the use of pesticides. Additionally, the advanced farming system can produce these nutrient-rich greens using significantly less water than traditional farming methods, saving our planet 103 million gallons per year (the equivalent of 156 Olympic sized pools). This will include a wide variety of great-tasting leafy greens packaged into ready-to-eat bagged greens and salad kits. The Muncie facility will provide fresh leafy greens, from harvest to shelf within 24 hours, to markets as far east as Pittsburgh, north as Detroit, Milwaukee, Kansas City and the Twin Cities, and south to Nashville and Charlotte, and all markets in between.
“The Muncie facility is in an ideal location to take a significant step in our national geographical expansion,” said George Pastrana, CEO of LGF. “It will help us to better supply our current retail partners, such as Walmart, Whole Foods, HyVee, UNFI, and others, as well as allow expansion into additional leading retail and wholesale customers across the Midwest and Midsouth.”
Vertical indoor farming is a growing, but young, industry with indoor production of leafy greens still only approximately five percent of total production in the United States.
“I wish to thank the people of Muncie and Delaware County for the work they put into making this new farm a reality,” added Pastrana. “As we are from a rural town in MN, we quickly came to a mutual realization that Muncie is an environment that will work very well for us.”
“Indiana is leaning into the future of agriculture technology, with company-partners, like Living Greens Farm, choosing to grow next-gen solutions here in the heart of America’s largest commodity crop production region,” said Indiana Secretary of Commerce Brad Chambers. “Living Greens Farm’s investment in Indiana builds momentum in the agtech sector for even more innovation and growth to follow.”
County Commissioner President Sherry Riggin said, “We are so pleased to have the Living Greens Farm investment in Delaware County. Diversification of industry in our community is incredibly important. The leafy greens product is a wonderful addition and we’re happy to welcome them to the county.”
ABOUT LIVING GREENS FARM
Headquartered in Minnesota, Living Greens Farm is one of the largest indoor vertical aeroponic farms in the US. Living Greens Farm produce requires 95 percent less water and 99 percent less land to grow year-round and all products are grown without pesticides or GMOs. Living Greens Farm has a full product line that includes salads, microgreens, and herbs available throughout the Midwest. For more information, please visit http://www.livinggreensfarm.com.
https://www.producebluebook.com/2022/03/08/living-greens-farm-inc-announces-significant-expansion/#
Sammy doing a good job at r/shortsqueeze $CEAD.
Prepare for takeoff!
I’m buying more too
Don't they have around 25M in cash now?; more than double of its current Market CAP?
Always do your own DD!
Same here. Been here for 5 years jumping in and out. Currently averaging down my common share price also. Bargain prices in my opinion
CEAD $$$
Yep. This company is gonna make $ in the long run (I hope). When the reverse split happened I unloaded my entire position that I've held onto since 2014 or so. Sold at .04 or just under.
I have now bought back twice as much at the same price and will go back into sit and hibernate mode.
Ya right... @ .01 pre split.
Still here, accumulating these extremely undervalued shares
Where's the cheerleaders?... Master Yoda and the other turds that were all over this 1 year ago.
Surna Cultivation Technologies Wins its First Complete Design Services Contract
Contract is for combined architectural design and MEP engineering services ( mechanical, electrical and plumbing )
Louisville, Colorado, March 01, 2022 (GLOBE NEWSWIRE) -- CEA Industries Inc. (NASDAQ: CEAD) subsidiary, Surna Cultivation Technologies LLC, a leader in controlled environment agriculture (CEA) systems engineering and technologies, was awarded a contract for architectural design and MEP engineering services for a 15,000 square foot indoor cultivation facility in Michigan.
Under the contract, Surna will deliver architectural and engineering services for a plan set suitable for permitting, bidding by installing contractors, and inclusive of all required construction details for tender and installation.
“By bringing architecture and engineering under one roof we can ensure a seamless coordination between these two core components of the design process. This means fewer design conflicts, fewer revisions, a more efficient construction process and ultimately a faster time to market,” said Jon Kozlowski, Surna’s Vice President of Sales. “Our objective is to provide the CEA producer with the core elements of a reliable, efficient cultivation and processing operation within a practical budget. This helps our clients have the lowest operational costs possible to stay competitive as the market ebbs and flows, while maximizing workflow efficiencies and revenues associated with production.”
Totally agree. Something’s cooking. Thanks for posting.
The press release yesterday may have far reaching and favorable implications for potential revenue. Below is the press release from January 13 that indicates the MEP services can create potential contracts with value...
Surna Cultivation Technologies Signs $2.1 Million Contract
An Additional Multi-Million Dollar Contract Signed in Second Half of 2021
Louisville, Colorado, Jan. 13, 2022 (GLOBE NEWSWIRE) -- CEA Industries Inc. (OTCQB: SRNA), doing business as Surna Cultivation Technologies, today announced it earned yet another multi-million dollar contract before the close of 2021.
“Today we are pleased to announce a signed contract for $2.1 million with a facility in Maryland,” said Jon Kozlowski, Surna’s Vice President of Sales. “Earlier in 2021, Surna performed the mechanical, electrical, and plumbing (MEP) engineering services for this 37,000 square feet of cultivation space. Thanks to the value added as a result of this work, we have been awarded the HVACD and controls equipment portion of the project.”
This project includes HVACD equipment for the veg, flower, mother, clone, and dry cure rooms, as well as comfort cooling in the office spaces. As part of the HVACD equipment order, Surna is providing its EnviroPro ™ air handlers, IsoStream ® fan coils, Surna by Anden dehumidifiers and humidifiers, boilers, and chillers. The project also includes controls design services and Surna’s proprietary controls system, SentryIQ ® . The SentryIQ system will control the mechanical system, lighting, CO 2 injection , and exhaust/purge systems and intake.
Troy Rippe, Surna Cultivation Technologies Vice President - Operations and Development, stated, “SentryIQ’s sensors, controls and automation platform helps our customers achieve the precision environmental control, energy management, and advanced trending and monitoring required by serious controlled environment agriculture growers. We are confident that combined with Surna’s engineering services, controls design services and HVACD equipment, our customer will be able to efficiently produce high quality, high yield products for years to come.”
About Surna Cultivation Technologies
Growth in engineering contracts tied to expanded product portfolio
Louisville, Colorado, Feb. 24, 2022 (GLOBE NEWSWIRE) -- CEA Industries Inc. (NASDAQ: CEAD) subsidiary, Surna Cultivation Technologies LLC, a leader in controlled environment agriculture (CEA) systems engineering and technologies, was recently awarded four engineering contracts for indoor farms across the United States.
Tony McDonald, CEA Industries Chairman and CEO stated, “I am proud of how our team continues to execute toward our strategic vision. Our strength comes from every team member’s high expectations for our future.”
Surna has seen an increase in cultivation facility owners’ propensities to work with its engineering teams earlier in their projects. By being involved earlier in the process, Surna’s engineers can provide a holistic system approach guided by the project’s needs and facility constraints. These contracts indicate this correlation, and further validate Surna’s expanded product offerings and strategic initiatives announced last year.
“Historically, cultivators have often decided on a particular manufacturer for their HVAC technology, even before engineering has started,” said Kenneth Loshelder, P.E. , Surna’s Director of Engineering and Field Services. "With more system choices available from a single source through Surna, our clients can freely explore a variety of CEA climate control technology options, working with our engineering team to select the one that best serves their interests."
Recent Contracts
California facility – mechanical and plumbing engineering
Michigan facility – architectural, mechanical, electrical and plumbing engineering
Ohio facility – mechanical engineering
Massachusetts facility – mechanical engineering
About CEA Industries Inc.
CEA Industries Inc. ( www.ceaindustries.com ), is home to industry leaders in controlled environment agriculture, with complementary and adjacent companies added to its portfolio when aligned with the company’s growth initiatives. As the global environment for indoor cultivation continues to grow, CEA Industries was formed to embrace companies that support these ecosystems.
Headquartered in Louisville, Colorado, CEA Industries knows that growth is a team sport. Through future partnerships and mergers and acquisitions, both financial and strategic, CEA Industries will continue its pursuit of companies that bring accretive value to its customers and investors.
About Surna Cultivation Technologies
Surna Cultivation Technologies ( www.surna.com ), is an industry leader in CEA facility design and technologies. We provide full-service licensed architectural and mechanical, electrical, and plumbing (MEP) engineering services, carefully curated HVACD equipment, proprietary controls systems, air sanitization, lighting, and benching and racking products. Our team of project managers, licensed professional architects and engineers, technology and horticulture specialists and systems integrations experts help our customers by precisely designing for their unique applications. Through our partnership with a certified service contractor network, we provide installation and maintenance services to assist in a smooth build-out and optimal facility performance. We have been providing solutions to indoor growers for over 15 years and have served over 800 cultivators with over 200 of them being large, commercial projects.
Headquartered in Louisville, Colorado, we leverage our experience in the industry to bring value-added solutions to our customers that help improve their overall crop quality and yield, optimize energy and water efficiency, and satisfy evolving state and local codes, permitting and regulatory requirements.
Contact :
Jamie English
Vice President, Marketing Communications
jamie.english@surna.com
303.993.5271
TCFIB, right on, I'm accumulating too. This could be $20 very soon!
Always do your own DD!
What’s most interesting is originally, Surna had around $2mil in cash and sales growth, yet was trading around .04.
Now they have over $20mil in cash, more sales growth according to their social media posts about recent contracts, and yet they are trading around .01 pre split, and the O/S even more now is giving us a market cap well below their cash on hand alone.
I am buying here before the market realizes how ridiculously cheap CEAD is right now.
There has been demonstrable sales growth in what is now their Surna subdivision and if they acquire or merge with a couple more Surna similar companies then we’ll be in good shape. At least that’s my hope and my expectation. But who the hell knows…
They should take that money and rebuy right now. Plus get some cheap warrants
Many people think that CEAD is severely undervalued considering cash in hand and market cap. They ignore the market sentiment and the fact that share price is always about future value not the current value. Market sentiment is - company has no growth, not enough cash flow and is going to burn cash in coming months. Share price declines.
Unless company shows solid sales growth, share price will continue to decline.
So is my account balance….very low teens…after having 1 million shares pre-RS.
Something has to be coming but in the meantime absolutely brutal…rugged yanked
I don't remember this, but I remember that they collected over 20M of cash but Market CAP is the teens
Remember a couple of weeks ago right before the split someone sold 500,000 shares for .02? Everyone was like WTF?
Post split as of today those same shares are worth .013...
another indoor farming article...
Big plans for 2022: Three new farms, a rebranding and introduction of new products
“Building the business is becoming easier with every farm that we open. We brought farms online in Atlanta and Houston towards the end of last year, and are soon going live in Seattle and Minnesota,” says Henner Schwarz, Kalera’s CCO.
After closing out 2021 with the acquisition of vertical farming company &ever and the opening of farms in Atlanta and Houston, Kalera is positioning itself to bring even more farms online in 2022 and beyond.
“By the end of 2021, we had three farms in the US and one in Kuwait. By the end of 2022, we’ll have nine farms in total by adding two farms in the US and one in Singapore,” says Henner. “By the end of 2023, we’ll have 16 farms. Then 26 farms by 2024, 38 farms by 2025 and 47 farms by 2026.”
Rebranding and enhanced sustainability ahead
In addition to its expansion plans, Kalera is planning a brand relaunch to reintroduce itself to the market as much has changed since the company was established. This initiative will also include the introduction of additional sustainable technologies such as new approaches to packaging.
“In Germany, we’re using packaging materials that are fully biodegradable and starch-based. We need to convince retailers that it is time to work with these technologies,” says Henner.
New regions breed new varietal possibilities
As Henner explains, expanding into new regions pushes Kalera to expand its product portfolio to meet the local demands. With its impending opening in Singapore, the company is looking to include stronger tasting varieties into its production such as mustard mixes, arugula and Asian greens. Kalera has been trialing numerous varieties to ensure that all newly built farms can hit the ground running.
Overall, Kalera is planning to move beyond leafy greens to include baby leaf, cut leaf and strawberries. Technology will play an increasingly important role for Kalera, which comes naturally following the acquisition of &ever in 2021.
“Kalera is all about providing a clean and affordable product by being very efficient in our processes and using optimized seeds to have optimized vertical farming. We are really optimizing for taste, while also seeing a 15-25% increase in yield,” explains Henner.
For more information:
Megan McCarl, Media contact
https://www.freshplaza.com/article/9401795/big-plans-for-2022-three-new-farms-a-rebranding-and-introduction-of-new-products/
Kalera AS to Acquire &ever GmbH to Form a Global Leader in the Vertical Farming Industry
Transformational Acquisition Creating A World Leader in Vertical Farming
August 11, 2021 01:30 ET | Source: Kalera
ORLANDO, Fla., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Kalera AS (Euronext Growth Oslo: KAL, Bloomberg: KSLLF), one of the fastest-growing and largest vertical farming companies in the world, announces today that it has entered into a share purchase agreement for the acquisition of all shares in &ever GmbH, a global leader in baby leaf indoor farming, for a total consideration reflecting an enterprise value for &ever GmbH of EUR 130 million on a cash and debt free basis as of 1 July 2021. The consideration will consist of a combination of cash and Kalera shares. Under the terms of the agreement, &ever GmbH shareholders will receive EUR 21.6 million in cash and 27,856,081 Kalera shares at a subscription price of NOK 36.68.
The cash consideration will be financed through a debt facility provided by DNB or by other financing sources available to Kalera. Kalera shareholders will own an 87% stake in the combined company, while current &ever GmbH shareholders will own 13%, on a fully-diluted basis.
&ever is a vertical farm company headquartered in Germany with operations in the Middle East, Asia and Europe. The acquisition will transform Kalera into a global vertical farming leader, accelerating its plans for international growth and broadening its product line to include several cut leaf baby greens in high demand.
The company will be wholly owned by Kalera AS upon closing of the transaction. &ever GmbH will be renamed to Kalera GmbH.
Leading Technology and Capabilities for Baby Leaf Production
Founded in 2015 to grow select baby leaf produce and herbs including spinach, kale, endive, arugula, watercress, cilantro and bok choy, &ever has developed a proprietary approach for seeding, germination, propagation, harvesting, and delivery of fresh baby leaf products that optimize the entire production cycle through unique growing methods and technologies.
&ever has operations in Europe, Asia, and the Middle East and has designed production facilities of various sizes, ranging from small scale installations to mega-farms. Large-scale installations or mega-farms allow for mass scale production of baby leaf greens in facilities that can be built in less than 10-months and that can produce up to 1,500 MT of produce per year.
&ever has a large-scale farm in Kuwait that is currently in ramp-up phase, built in partnership with NOX Management. A second mega-farm is under construction in Singapore with support from a major competitive government grant and is expected to start operations during Q1 2022.
Small scale production facilities include an on-site Grow Box® for small retail stores and an on-site Grow Tower® for larger retail stores allowing the company to grow on-site in a local grocery store.
In addition, the company has unique growth solutions that include Dryponics® and Bestponics®, which are exclusive to &ever and expand the existing alternatives for growing leafy greens. Additional capabilities include advanced climate cells for perfect climate conditions for each product and an automated intra-farm bench movement system that significantly reduces operating expenses for high volume/short cycle growing methods, developed in partnership with German engineering firms Viessmann and Kardex Mlog, and Italy-based Modula.
Transformational Acquisition Creating a World Leader in Vertical Farming
"With Kalera’s farms in North America and &ever’s operations in Asia, the Middle East and Europe, we will jointly revolutionize the global vegetable production industry and further expand our market leadership in vertical farming,” says Daniel Malechuk, CEO of Kalera. “In addition, we see &ever's climate cell technology and their high degree of automation as excellent additions to our advanced nutrient management system, which will further increase the productivity of our production facilities."
“From the beginning, our vision has been to offer communities worldwide hyperlocal high-quality salads and herbs year-round. Together with Kalera, we have now come a big step closer to this goal,” says Dr. Henner Schwarz, CEO of &ever who will serve as Managing Director of EMEA and Asia for the combined entity. "We share very similar visions, core values, and goals and are eager to immediately begin the integration of the companies together."
“The merger is an important milestone for the global future of vertical farming. We are very much looking forward to the next steps with &ever as a new, stronger Kalera,” says Daniel Malechuk who will serve as CEO of the combined company. “This acquisition, combined with our previous acquisition of Vindara, the only seed company dedicated specifically for controlled environment agriculture, continues to complement and accelerate Kalera’s now global industry-leading position.”
The Largest Portfolio of Indoor Farming Systems
Through the combination with &ever’s existing portfolio of vertical farms, Kalera will own the largest portfolio of farming systems from small in-store or on-property farms to mega-farms, allowing Kalera to serve all market segments through a full spectrum of indoor farming systems that require low CAPEX and can deliver all products ranging from baby leaf, full head, cut leaf, or teen leaf to serve all segments and customer preferences.
Ability to Produce the Full Array of Leafy Green Products from Whole-Head to Baby Leaf
The indoor farming industry has been highly fragmented into different product segments between microgreens, baby leaf, cut leaf, teen leaf, and full head. Kalera will become the only company with capabilities to serve every segment within the leafy green industry solidifying Kalera’s position as the overall indoor farming market leader. This will provide retailers and foodservice customers with a single source to serve all their leafy green needs, a value proposition in the marketplace that no other company has been able to offer until now.
Accelerate Global Expansion
Kalera will accelerate its international rollout plan with the addition of two international facilities and a strong pipeline of opportunities especially in the Middle East and Asia. The &ever facility in Kuwait is a partnership with NOX Management, an investment arm of IFA Group, an owner of food markets, restaurant chains, retail chains, and food distributors. The &ever farm in Singapore is under construction and will launch operations by the end of Q1 2022. These two farms will become Kalera’s first international operations accelerating Kalera’s rollout schedule. Additional rapid international expansion at strategic locations throughout Asia, Middle East, and Europe, will be driven by Kalera’s and &ever’s combined business plan with an ability to offer the widest product portfolio to customers.
World-class Management Team to Join Kalera
&ever’s management team will join Kalera to strengthen Kalera’s international business development initiatives and operational capabilities. In addition, one member of &ever’s Board will join Kalera’s Board, adding to a team of world-class professionals that will help to drive the company’s future.
Technology and Partnerships are Highly Complementary
With &ever, Kalera adds grow technologies and strong German engineering partnerships. Kalera’s best-in-class hydroponic grow systems have been used to-date for growing whole-head lettuce and microgreens, whereas Dryponics® and Bestponics® technology is more flexible and productive for growing baby leaf including certain product varieties such as spinach and arugula. &ever’s technology also allow for a more effective offering of smaller in-store growing systems. These technologies can be combined to produce a wider variety of products with maximum efficiency. &ever’s partnerships with Viessmann and Kardex Mlog, and Modula add outstanding expertise in climate control and in-farm bench movement systems, respectively.
Transaction Terms
Under the terms of the agreement, &ever GmbH shareholders will receive EUR 21.6 million in cash and 27,856,081 Kalera shares at a subscription price of NOK 36.68. The consideration shares will be subject to a twelve-month lock-up after closing except for management who will be subject to a three-year lock-up.
The cash consideration will be financed through a debt facility provided by DNB or by other financing sources available to Kalera.
Kalera shareholders will own an 87% stake in the combined company, while current &ever GmbH shareholders will own 13%, on a fully-diluted basis.
By continuing to own shares of the combined company, &ever GmbH shareholders will have the opportunity to participate in the enlarged Kalera’s long-term value creation potential.
The current &ever shareholders will propose Faisal Al-Meshal as a new Kalera Board member and Dr. Klaus Bader as an observer to the Kalera Board, both to be proposed for election at a Kalera general meeting. The election is expected to take effect upon completion of the contemplated merger between Kalera and the new Luxembourg parent for the group, which has previously been announced. In the period between completion of the &ever acquisition and such merger, Faisal Al-Meshal and Dr. Klaus Bader will be invited to participate in Kalera Board meetings.
Up to 2.2 million Kalera share options will be granted to &ever management in connection with the transaction. The options will have a strike price of NOK 36 and will vest over four years with the following schedule: 0% at the end of year one, 25% at the end of year two, 25% at the end of year three, and 50% at the end of year four.
The transaction is subject to customary closing conditions, including a resolution of the Kalera general meeting to issue the consideration shares to the &ever shareholders.
It is expected that the transaction will be completed by the end of September 2021.
A presentation about the acquisition is attached here and is also available at the Kalera's website, www.kalera.com/investor.
About &ever:
&ever is a German indoor vertical farming company that combines technologies from the fields of software, mechanical engineering and agriculture. &ever has been represented on the global market since 2015 and operates a large vertical farming facility in Kuwait, in addition to in-store grow-towers in Germany. It is also currently constructing a mega-facility in Singapore. The company's focus is on building sustainable farms in cities around the world to provide more and more people with better tasting lettuce with higher nutrient content at the same time. The patented cultivation systems from &ever are easily scalable in shape and size so that indoor vertical farms of various sizes can be operated anywhere in the world, regardless of local climatic conditions. More information is available at www.and-ever.com.
About Kalera:
Kalera is an American vertical farming company based in Orlando, Florida. The company uses technology to ensure that more people around the world have access to the freshest, most nutritious, and cleanest products possible. It has spent several years optimizing plant nutrient formulas and developing an advanced automation and data acquisition system with Internet of Things, cloud, big data analytics and artificial intelligence. Kalera currently operates farms in Orlando, Florida, and Atlanta, Georgia. Kalera’s Houston, Texas farm will open soon, and the company has plans to open more farms in the US and also in both the Middle-East and Asia in the coming months. More information is available at www.kalera.com.
How much cash now they have vs Market CAP?
They are calling Cerner subsidiary of CEA industries. I’m not sure if it is a good idea to confuse shareholders further? But we are trading just above a penny pre-RS
Interesting, PR is Surna not CEA Industries.
Not disagreeing with the PR part, but idk about buying at those levels… way too oversold. We found a bottom here, unless some seriously concerning news comes out that drives it lower
CEAD
Gag order lifted. Groundbreaking PR:
Surna Cultivation Technologies to Exhibit at Upcoming Spring Trade Conferences
LOL! I'll buy back at around $1.50 (.01 presplit) which from the looks of things won't be too long.
I think quiet period for this offering is 3 days. Not sure when the timer starts but we should be done or about done.
They did that PR earlier. I sure hope they have more substance in store very soon!
I bought more at $2.39, so I am keeping faith. Quiet period almost over I hope. And the market will correct is also my hope. Seems like some force beat it down....Need to offset RS perception
It won't go out of business in near future since they have 20M+ cash. In worst case, it can get delisted from Nasdaq and trade on OTC again.
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http://www.surna.com/
Phone: (303) 997-6050
Fax: (303) 995-2544
1780 55th Street, Suite A
Boulder, CO 80301
STATE OF THE ART GROWING TECHNOLOGY
https://www.youtube.com/watch?v=oiJO3SpbQl4
Our experience serves to provide you with a custom design that you can rely on. Whatever your goals are, we can sit down together and create a solution:
Cultivation Products
Controlled Climate Systems
Controls
Biosecurity
Grow Room Services
MEP Consultants
Engineering
Odor Control
Installation Support
02-08-2022 SRNA SECURITY DETAILS (OTC Markets - prior to RS)
Market Cap.................9,625,212
Authorized Shares....850,000,000
Outstanding Shares..240,630,294
Restricted....................31,467,874
Unrestricted...............209,162,420
Held at DTC..............192,419,042
Float...........................204,171,194
Note: A 1 for 150 reverse split was executed 2/9/22.
RECENT NEWS:
CEA Industries Announces Pricing of $24 Million Public Offering and Nasdaq Listing Press Release | 02/10/2022
CEA Industries Inc. Announces Reverse Stock Split Effective February 9, 2022 Press Release | 02/08/2022
Surna Cultivation Technologies Announces Leandru Schiau as New Product Manager Press Release | 02/01/2022
CEA Industries Inc. Announces Ticker Symbol Change to “CEAD” on OTCQB Exchange Press Release | 01/24/2022
CEA Industries Inc. Announces Appointment of Two New Board Members Press Release | 01/20/2022
Surna Cultivation Technologies Signs $2.1 Million Contract Press Release | 01/13/2022
CEA Industries Inc. Announces New Senior Vice President of Corporate Development Press Release | 01/11/2022
Surna Cultivation Technologies Signs First Lighting and Benching Contracts Press Release | 01/06/2022
Surna Cultivation Technologies Signs $3.4 Million Contract with Aeriz Holdings Corporation Press Release | 01/04/2022
Surna Cultivation Technologies Becomes Authorized Reseller of Air Sniper Air Sanitization Product Line Press Release | 12/09/2021
Surna Cultivation Technologies Signs First Preventative Maintenance Contracts Press Release | 11/11/2021
Surna Reports Third Quarter 2021 Results Press Release | 11/10/2021
Surna Cultivation Technologies Becomes Authorized Reseller of BVV Neocision™ LED Grow Lights Press Release | 10/14/2021
Surna Cultivation Technologies Announces Benching and Racking Line-up Press Release | 09/29/2021
Surna Cultivation Technologies Introduces VRF Product Line Press Release | 09/02/2021
Surna Reports Second Quarter 2021 Results Press Release | 08/10/2021
Surna Cultivation Technologies Announces Cultivation Facility Architectural Design Services Press Release | 07/29/2021
Surna Reports Second Highest Revenue in its History and Return to Profitability in Preliminary Second Quarter Results Press Release | 07/28/2021
Surna Cultivation Technologies Introduces EnviroPro™ Air Handling Product Family Press Release | 07/14/2021
Surna Cultivation Technologies Announces R. Brian Knaley as New CFO Press Release | 06/29/2021
Surna Cultivation Technologies Introduces Preventative Maintenance Services Press Release | 06/22/2021
Surna Cultivation Technologies Introduces High Efficiency EcoChill™ Heat Recovery Chiller Press Release | 06/08/2021
Surna Reports Q1 2021 Results Press Release | 05/11/2021
Surna Reports Q4 2020 and Full Year Results Press Release | 03/24/2021
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