Agrico Acquisition Corp.
RICO
NASDAQ Capital Market13.36
USD
+4.06
- -
Agrico Acquisition Corp.
RICO
(NASDAQ Capital Market)
Recent
price
13.36
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Similar Companies
- Business
- Agrico Acquisition Corp. (NASDAQ:RICO) is a blank check company whose principal business activity is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, with a focus on agriculture technology (AgTech) targets in the Americas. Incorporated in 2020 and headquartered in Grand Cayman, Cayman Islands, the company has no significant operations or revenue generation prior to completing a de-SPAC transaction; it raised $125 million in its initial public offering in July 2021 at $10 per unit, consisting of one Class A ordinary share and one-half of a redeemable warrant exercisable at $11.50. In June 2022, Agrico completed a business combination with Kalera Public Limited Company, a vertical farming operator, resulting in the combined entity trading under the ticker KAL on Nasdaq following shareholder approval and customary closing conditions, with Kalera's shareholders retaining the majority ownership and Agrico's original shareholders holding approximately 42% or less of the post-merger entity amid investigations into potential fiduciary duty breaches related to dilution. Prior to the merger, Agrico targeted opportunities in agriculture, horticulture, and aquaculture sectors aimed at enhancing yield, efficiency, or profitability across production, processing, distribution, inputs, data, technology, or related services; post-combination, the focus shifted to Kalera's core offerings of nutrient-rich, pesticide-free, non-GMO leafy greens including Kalera Krunch lettuce, Butter Lettuce, Red Oak Leaf, Baby Romaine, Frisee, baby leaves, microgreens, and herbs produced via automated, data-driven hydroponic facilities. Kalera operates farms in the United States (Orlando, Florida; Atlanta, Georgia; Houston, Texas; Denver, Colorado) and Kuwait, with additional facilities under construction as of early 2022 to support national and global expansion of sustainable vertical farming. Subsequent to the merger, Kalera announced intentions to amend Class A warrant provisions and reported Q3 2022 earnings, though Agrico as a standalone entity now operates as an inactive instrument on Nasdaq with no ongoing independent products, services, partnerships, funding rounds, or expansions beyond the completed de-SPAC.