Moolec Science Ltd. ("Moolec" or the "Company"), a science-based
food ingredient company focused on producing animal proteins in
plants through Molecular Farming, and LightJump Acquisition
Corporation (Nasdaq: LJAQ; "LightJump"), a publicly traded special
purpose acquisition company, today announced that their previously
announced business combination (the "Business Combination") was
approved at a special meeting of stockholders (the "Special
Meeting") of LightJump on December 27, 2022. Approximately 92% of
the votes cast at the Special Meeting were in favor of the Business
Combination. LightJump plans to file the results of the Special
Meeting, as tabulated by an independent inspector of elections, on
a Form 8-K with the Securities and Exchange Commission (the “SEC”).
Subject to the satisfaction of customary closing
conditions, the transaction is expected to close on December 30,
2022. The combined company will be Moolec Science SA (the “Combined
Company”), and its shares and warrants are expected to begin
trading on the Nasdaq under the symbols “MLEC” and “MLECW”,
respectively, starting January 2023.
Moolec is a Molecular Farming pioneer in the new
food industry that uses plants to produce animal proteins.
Molecular Farming technology enables the synthesis of animal
proteins’ DNA in any seed crop, carefully selecting each protein
for its ability to add value in terms of a targeted functionality
trait such as clotting, taste, texture, or nutritional value. The
resulting proteins can then be used as ingredients in consumer food
products providing tastier, more functional, and affordable
cruelty-free protein alternatives.
Molecular Farming is unique in its ability to
capitalize on the scale that extensive agriculture entails to
achieve affordability. It is also cost-efficient because it
leverages biology, using plants and their inputs –sun energy,
water, and soil– as small factories for the production of animal
proteins. The plants are grown through traditional farming
practices that result in economies of scale through high
productivity volume production.
Moolec's Molecular Farming platform has the
potential to modify and enhance other plants using animal proteins,
which could allow the Combined Company to possibly consider other
market opportunities.
Moolec is backed by Nasdaq-listed Bioceres Crop
Solutions Corp. (Nasdaq: BIOX), a fully integrated provider of crop
productivity solutions enabling the transition to a carbon neutral
agriculture; Theo I SCSp, a life sciences venture capital
enterprise; and Union Group, a private equity management firm.
Commenting on today’s announcement, Moolec’s
Chief Executive Officer, Director, and Co-Founder, Gastón Paladini
said, “This is a very proud moment for Moolec Science, as we are
expecting to be the first Molecular Farming food-tech company in
the public markets. It is a step forward in the use of science in
food that will help overcome the current worldwide food security
crisis.”
About Moolec Science
Moolec is a science-based ingredient company
focused on producing real animal proteins in plants through
Molecular Farming, a disruptive technology in the alternative
protein landscape. Its purpose is to upgrade taste, nutrition, and
affordability of alternative protein products while building a more
sustainable and equitable food system. The company’s technological
approach aims to have the cost structure of plant-based solutions
with the organoleptic properties and functionality of animal-based
ones. Moolec’s technology has been under development for more than
a decade and is known for pioneering the production of a bovine
protein in a crop for the food industry. Moolec is run by a diverse
team of Ph.Ds and Food Insiders, and operates in the United States,
Europe, and South America. For more information, visit
www.moolecscience.com.
About LightJump Acquisition Corp.
LightJump is a Delaware blank check company
incorporated on July 28, 2020, formed for the purpose of entering
into a merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or other similar business
combination with one or more target businesses. For more
information, visit
www.lightjumpcap.com/lightjump-acquisition-corp.
Forward-Looking Statements
This press release contains “forward-looking
statements.” Forward-looking statements may be identified by the
use of words such as “forecast,” “intend,” “seek,” “target,”
“anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,”
and “project” and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. For example, statements concerning the
following include forward-looking statements: the growth of
Moolec’s business and its ability to realize expected results; the
business model of Moolec relating to any partnerships, commercial
contracts, regulatory approvals or patent filings; the viability of
its growth and commercial strategy; financial projections; the
success, cost and timing of its product development abilities; the
advantages and potential of Moolec’s technology and products,
including in comparison to competing technologies and products;
trends and developments in the industry; the addressable market;
the contemplated transaction among Moolec and LightJump; Moolec’s
addressable market; and the potential effects of the business
combination among Moolec and LightJump. Such forward-looking
statements with respect to performance, prospects, revenues, and
other aspects of the business of Moolec or LightJump are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Although we believe
that we have a reasonable basis for each forward-looking statement
contained in this press release, we caution you that these
statements are based on a combination of facts and factors, about
which we cannot be certain. These factors include, but are not
limited to: (1) the inability to complete the transactions
contemplated by the proposed business combination, resulting in the
Combined Company with the expectation to be listed on Nasdaq; (2)
the inability to recognize the anticipated benefits of the proposed
business combination, which may be affected by, among other things,
competition, and the ability of the combined business to grow and
manage growth profitably; (3) the inability to successfully retain
or recruits officers, key employees, or directors following the
proposed business combination; (4) effects on LightJump’s public
securities’ liquidity and trading; (5) the market’s reaction to the
proposed business combination; (6) the lack of a market for
LightJump’s securities; (7) Moolec’s and LightJump’s financial
performance following the proposed business combination; (8) costs
related to the proposed business combination; (9) changes in
applicable laws or regulations; (10) the possibility that LightJump
or Moolec may be adversely affected by other economic, business,
and/or competitive factors; (11) the risk that Moolec is unable to
successfully develop and commercialize Moolec’s products or
services or experience significant delays; (12) the risk of product
liability or regulatory lawsuits relating to Moolec’s products and
services; (13) the risk that Moolec is unable to secure or protect
its intellectual property; (14) the ability to maintain the listing
of LightJump’s securities on Nasdaq and (15) the ability for the
Combined Company’s securities to be approved for listing on Nasdaq
or if approved, maintain the listing. The foregoing list of factors
is not complete or exhaustive. You should carefully consider the
foregoing factors as well as other risks and uncertainties
described in the “Risk Factors” section of LightJump’s Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and in the
final prospectus of LightJump related to its initial public
offering filed with the SEC. You should also carefully consider the
other risks and uncertainties indicated from time to time in
documents filed or to be filed with the SEC by LightJump and the
Form F-4 and proxy statement filed with the SEC by the Combined
Company and LightJump. Should one or more of these risks or
uncertainties materialize, or should any of our assumptions prove
incorrect, actual results may vary in material respects from those
projected in these forward-looking statements. We undertake no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
Accordingly, you should not put undue reliance on these
statements.
Moolec Science Media Contacts
- Catalina Jones - comms@moolecscience.com
- Edmond Lococo - MoolecPR@icrinc.com
Moolec Science and LightJump Investor
Contact
- Martín Taraciuk - ir@moolecscience.com
- Michael Bowen, ICR, LLC - MoolecIR@icrinc.com
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