Pluri secures additional $3.5M investment from Merchant Adventure Fund

Pluri (PLUR) announced the pricing of a private placement of $3.5M by long-term shareholder Merchant Adventure Fund, a major existing shareholder of Pluri, under the same terms as the previously announced investment by Alejandro Weinstein. Pursuant to a securities purchase agreement between the Company and Merchant Adventure Fund, the Company has agreed to issue and sell 759,219 shares of the Company’s common shares, at a purchase price of $4.61 per Common Share and warrants to purchase up to 45,553 common shares at an exercise price of $5.568 per share, for aggregate gross proceeds of $3.5M to Pluri. The closing of the offering is expected to occur on or about February 20, 2025, subject to the satisfaction of certain customary closing conditions. With this latest commitment, Pluri has secured a total of $10M in strategic investments over the past two weeks. This includes current $3.5M investment from Merchant Adventure Fund and the $6.5M investment from Alejandro Weinstein, which also involves Pluri entering into an agreement to acquire Kokomodo, subject to shareholder approval, and potentially enter the cacao market.