Kaltura Announces Pricing of Initial Public Offering

Rhea-AI Summary

Kaltura, Inc. has priced its initial public offering (IPO) at $10.00 per share, offering 15,000,000 shares, all by the company itself. The shares are expected to trade on Nasdaq under the ticker 'KLTR' starting July 21, 2021, with the offering closing on July 23, 2021, pending customary conditions. Kaltura may raise approximately $150 million before underwriting expenses, with an additional option for underwriters to purchase up to 2,250,000 shares. Goldman Sachs and BofA Securities lead the offering, which is now open for investment.

Positive

• Initial public offering priced at $10.00 per share.
• Expected gross proceeds of approximately $150 million.
• Shares to trade on Nasdaq under symbol 'KLTR'.

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• None.

NEW YORK, July 21, 2021 (GLOBE NEWSWIRE) -- Kaltura, Inc. (“Kaltura”), the video experience cloud, today announced the pricing of its initial public offering of 15,000,000 shares of its common stock at a price to the public of $10.00 per share. All of the shares are being offered by Kaltura.

The shares are expected to begin trading on The Nasdaq Global Select Market on July 21, 2021 under the symbol "KLTR" and the offering is expected to close on July 23, 2021, subject to customary closing conditions. In addition, Kaltura has granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of common stock at the initial public offering price less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Kaltura, are expected to be approximately $150.0 million, excluding any exercise of the underwriters' option to purchase additional shares.

Goldman Sachs & Co. LLC and BofA Securities are acting as lead book-running managers for the offering. Wells Fargo Securities and Deutsche Bank Securities are also acting as book-running managers for the offering. Canaccord Genuity, JMP Securities, KeyBanc Capital Markets, Needham & Company and Oppenheimer & Co. are acting as co-managers for the offering.

The offering is being made only by means of a prospectus. Once available, a copy of the final prospectus related to the offering may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com or BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com.

A registration statement relating to the sale of these securities has been filed with, and declared effective by, the Securities and Exchange Commission. Copies of the registration statement can be accessed through the Securities and Exchange Commission’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Kaltura

Kaltura’s mission is to power any video experience for any organization. Our Video Experience Cloud offers live, real-time, and on-demand video products for enterprises of all industries, as well as specialized industry solutions, currently for educational institutions and for media and telecom companies. Underlying our products and solutions is a broad set of Media Services that are also used by other cloud platforms and companies to power video experiences and workflows for their own products. Kaltura’s Video Experience Cloud is used by leading brands reaching millions of users, at home, at school and at work, for communication, collaboration, training, marketing, sales, customer care, teaching, learning, virtual events, and entertainment experiences.

Investor Contact:
Kaltura
Yaron Garmazi
Chief Financial Officer
IR@Kaltura.com

Sapphire Investor Relations
Erica Mannion and Michael Funari
+1 617 542 6180
IR@Kaltura.com

Media Contacts:
Kaltura
Lisa Bennett
pr.team@kaltura.com

Headline Media
Raanan Loew
raanan@headline.media
+1 347 897 9276

FAQ

What is the share price for Kaltura's IPO on July 21, 2021?

Kaltura's initial public offering is priced at $10.00 per share.

When will Kaltura's shares start trading on the Nasdaq?

Kaltura's shares are expected to begin trading on Nasdaq on July 21, 2021.

How many shares is Kaltura offering in its IPO?

Kaltura is offering 15,000,000 shares in its initial public offering.

What are the expected gross proceeds from Kaltura's IPO?

The expected gross proceeds from Kaltura's IPO are approximately $150 million.

Who are the lead managers for Kaltura's IPO?

Goldman Sachs and BofA Securities are acting as lead book-running managers for the offering.