Merger LJAQU

Moolec Science, to List on Nasdaq Through Business Combination with LightJump Acquisition Corp.

, SPAC Research

Moolec Science, a science-based food ingredient company; and LightJump Acquisition Corp. (NASDAQ: LJAQ), announced today the entry into a definitive agreement for a business combination that would result in Moolec Science, becoming a publicly listed company.

The business combination sets the Company’s proforma equity value at $504 million.

As a result of the transaction, the Combined Company is expected to be funded with $138 million cash held in LJAQ’s trust account, assuming no LJAQ shareholders exercise their redemption rights at closing and before payment of transaction expenses. In addition, LJAQ has entered into a backstop agreement with entities affiliated with Moolec to guarantee a minimum of $10 million at closing.

The current shareholders of Moolec will contribute all of their shares of Moolec to the Company.

Cash proceeds raised in connection with the transaction will primarily be used to accelerate the commercialization of late-stage products, Chymosin and GLA; expansion of R&D & Regulatory Approval efforts for the existing product pipeline; funding for team expansion and general corporate expenses; and organic & inorganic growth opportunities.

EarlyBird Capital, acted as financial advisor to LJAQ. Linklaters acted as legal counsel to Moolec, and K&L Gates acted as legal counsel to LJAQ in the transaction.

Pursuant to the transactions contemplated by the business combination agreement, Moolec and LJAQ will ultimately become wholly-owned subsidiaries of the Company. The transaction is expected to be completed in the second half of 2022 and upon closing the Company is expected to be listed on Nasdaq under the ticker symbol “MLEC”.

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