Lark Distilling Co. Ltd (ASX:LRK) entered into a binding agreement to acquire Kernke Family Shene Estate Pty Ltd for AUD 37 million on October 18, 2021. The Consideration will be paid in combination of cash and equity, comprised of AUD 35.5 million in cash and will issue 0.31 million Lark shares. The acquisition will be funded through equity raising of approximately AUD 53 million comprised of a fully underwritten unconditional placement of AUD 46.5 million and a non-underwritten conditional placement of AUD 6.4 million. Under the terms of the SSA: simultaneously with the completion of the Share Acquisition, Shene Estate will acquire the Cooperage building from an entity associated with the Sellers (Cooperage Building Acquisition); and on the date that is 12 months after the completion of the Share Acquisition, Shene Distillery will acquire certain plant and equipment contained within the Cooperage from an entity associated with the Sellers (Cooperage Asset Acquisition). The conditional placement is subject to shareholder approval. The Acquisition is expected to complete in early February 2022.

Lark Distilling Co. Ltd (ASX:LRK) completed the acquisition of Kernke Family Shene Estate Pty Ltd on February 2, 2022.