Kaleyra, Inc., a rapidly growing cloud communications software provider delivering a secure system of application programming interfaces (APIs) and connectivity solutions in the API/Communications Platform as a Service (CPaaS) market, announced that it has on September 30, 2020 signed a warrant exchange agreement with Riverview Group LLC.
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On October 2, 2020, pursuant to the agreement, the Company is issuing an aggregate of 850,500 shares of Common Stock in exchange for the surrender and cancellation of 3.78 million warrants (NYSE American: KLR WS) previously issued by the Company as part of its initial public offering in December 2017 (the “Public Warrants”). The agreement reduced the total number of outstanding Public Warrants by approximately 35%, to 7.0 million from 10.8 million.
“We are excited to execute this exchange agreement as we continue to simplify the Company’s capital structure for our stockholders,” said Dario Calogero, Kaleyra’s Founder and Chief Executive Officer.
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