Sandton Capital Solutions Master Fund V, LP, a fund managed by Sandton Capital Partners LP completed the acquisition of 100% stake in Vindara, Inc. from Kalera Public Limited Company for $3.99 million .
May 04, 2023
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Sandton Capital Solutions Master Fund V, LP, a fund managed by Sandton Capital Partners LP intended to acquire Vindara, Inc. from Kalera Public Limited Company on October 18, 2022. As on May 5, 2023 Sandton Capital Partners LP entered into stock purchase agreement with Kalera Public Limited Company to acquire Vindara, Besides Vindara, Inc., Kalera Public Limited Company also wants to divest The international business includes the previous & ever GmbH management team, and farming assets in Kuwait and Singapore. Vindara is expected to continue serving Kalera?s strategic custom seed needs and serving other indoor farming companies..The consideration consists of approximately $3.99 million, which included Sandton Capital Solutions Master Fund V's forgiveness of Kalera Inc.?s $3.3 million debt to Sandton Capital Solutions Master Fund V, subject to certain adjustments as set forth in the stock purchase agreement. The $3.3 million debt was indebtedness of Kalera, Inc. pursuant to the farm credit loan and security agreement, dated as of April 14, 2022, by and between Kalera, Inc. and Farm Credit of Central Florida, ACA, which was guaranteed by Vindara.
Sandton Capital Solutions Master Fund V, LP, a fund managed by Sandton Capital Partners LP completed the acquisition of 100% stake in Vindara, Inc. from Kalera Public Limited Company for $3.99 million on May 5, 2023. The consideration consists of approximately $3.99 million,which included Sandton Capital Solutions Master Fund V's forgiveness of Kalera Inc.?s $3.3 million debt to Sandton Capital Solutions Master Fund V, subject to certain adjustments as set forth in the stock purchase agreement. The $3.3 million debt was indebtedness of Kalera, Inc. pursuant to the farm credit loan and security agreement, dated as of April 14, 2022, by and between Kalera, Inc. and Farm Credit of Central Florida, ACA, which was guaranteed by Vindara.
Kalera Public Limited Company is a vertical farming company. The Company utilizes proprietary technology and plant and seed science to sustainably grow local, delicious, nutrient-rich, pesticide-free, non-GMO leafy greens year-round. Its automated, data-driven hydroponic production facilities have been designed to grow leafy greens faster, cleaner and in a manner that is better for the environment than traditional farming. It grows an assortment of lettuce, herbs and microgreens in vertical farming. The Company grows flavorful lettuce year-round without pesticides, utilizing clean room technology, such as Kalera Krunch, Baby Romaine, Red Oak Leaf, Butter Lettuce, and Frisee. The Company also grows specialized microgreens from non-GMO seeds, such as Cilantro, Spicy Mix, Red Sorrel, Red Sorrel, Basil, and Popcorn Shoots. It operates farms in the United States, which includes Orlando, Atlanta, Houston, Denver, Seattle, Columbus, Honolulu, and St.Paul.
Sandton Capital Solutions Master Fund V, LP, a fund managed by Sandton Capital Partners LP completed the acquisition of 100% stake in Vindara, Inc. from Kalera Public Limited Company for $3.99 million .