Kaltura, Inc., the video experience cloud, announced on Wednesday 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.
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Kaltura's mission is to power any video experience for any organization. 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.
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 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. 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.
