Kaleyra to Combine With Special Purpose Acquisition Company GigCapital
Los Angeles – March 8, 2019 – Cooley advised cloud communications software provider Kaleyra on its agreement to combine with GigCapital, a special purpose acquisition company, or SPAC. As part of the agreement, which is expected to close in the second half of 2019, Kaleyra will list on the New York Stock Exchange. Partners Josh DuClos and John McKenna led the Cooley team advising Kaleyra on the agreement.
GigCapital’s private-to-public equity platform will enable the successful transition of late-stage growth technology company Kaleyra to a US public-market traded entity. As a public company, Kaleyra will have a stronger capital structure and greater latitude to excel and achieve its projected accelerated financial growth by organic and strategic means.
“This represents a significant milestone for Kaleyra and will fuel our next phase of growth within the consolidating cloud communications for enterprises market,” Kaleyra founder Dario Calogero said in a statement. “Our product portfolio will expand further in servicing the selected industries we address, taking advantage of the public market expertise of GigCapital founders, directors and advisers, as we merge our expertise in technology, marketing, strategy and finance.”
Kaleyra, whose securities will trade on the NYSE under the symbol “KLR,” provides mobile messaging services for financial institutions and other types of enterprises of all sizes. Through its proprietary platform, Kaleyra manages multichannel integrated communication services on a global scale, comprising messages, push notifications, email, instant messaging, voice services and chatbots.
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