Pluri Secures $6.5 Mln Investment To Buy 71% Of Kokomodo To Enter Cocao Market

(RTTNews) - Pluri Inc. (PLUR), a biotechnology company, on Thursday announced a $6.5 million private investment, led by the investor Alejandro Weinstein. Concurrently, Pluri will buy a 71 percent stake in Kokomodo Ltd. for $4.5 million, payable in shares.

Further, Weinstein is expected to join Pluri's Board.

As per the agreement, the investment consists of the issuance and sale of 1.383 million shares of the company at $4.61 per share, warrants for the purchase of up to 84,599 shares at $5.568 per share, and pre-funded warrants to buy up to 26,030 shares at $0.0001 per share for gross proceeds of $6.5 million to Pluri. 

Pluri intends to use the net proceeds from the investment, to be closed on or about January 31, for working capital and general corporate purposes.

Concurrently, Pluri will buy around 71 percent of Kokomodo from Chutzpah Holdings Ltd. and Plantae Ltd., both under the control of Weinstein, for a total price of $4.5 million, to be paid by the acquirer in 976,139 newly issued shares, based on a price per share of $4.61.

The Kokomodo transaction is expected to be closed in the second quarter of 2025.

With this, Pluri aims to boost its financial position and accelerate its expansion into the cultivated cocao market through the acquisition of a majority stake in Kokomodo, an Israeli company focused on crafting climate-resilient cacao using cellular agriculture technology.