Moolec Science Announces US $30 Million Capital Raise With Strategic Investors
Luxembourg, Oct 17, 2023 - (ACN Newswire via SeaPRwire.com) - Moolec Science SA (NASDAQ:MLEC; "Company"; "Moolec''), a science-based food ingredient company, announced today that it has entered into agreements to issue a convertible note due 2026 to Grupo Insud ("Insud") in a principal amount of approximately US $21 million (the "Insud Convertible Note") with a strike price of US $6.00 per share. The Insud Convertible Note will be issued against a cash payment of US $10 million and in-kind contributions to be made by Insud to Moolec. In-kind contributions include credits to access Insud's state-of-the-art industrial capabilities, operational services, and the incorporation of Joint Venture participation, started with Moolec in 2021. At maturity, Moolec will hold the option to deliver ordinary shares, cash, or a combination of cash and ordinary shares.This transaction follows Moolec's previous announcement that it entered into a Memorandum of Understanding with Bioceres Crop Solutions (NASDAQ:BIOX; "BIOX") that secures the supply of approximately 15,000 tons of HB4® soybeans (the "BIOX Supply Agreement") that may be upsized for a similar volume. The BIOX Supply Agreement will be pai...
