KLTR - Intel-backed Kaltura's stock pops 20% after IPO values video-cloud firm at $1.2B

porcorex/iStock via Getty Images Video-cloud company Kaltura (KLTR) popped as much as 20% intraday Wednesday following an IPO that valued the Intel-backed firm at about $1.2B. KLTR rose to as high as $12 a share before settling back to trade at $11.53 shortly before 3:30 p.m. ET, up 15.3% from its $10-a-share IPO price. Kaltura sold 15M shares at the midpoint of their expected $9-$11 price range. The company also granted underwriters the option to buy an extra 2.25M shares for overallotments. All told, the firm expects to have about 124.1M shares outstanding following the IPO, which valued KLTA at roughly $1.2B on a non-diluted basis even before Wednesday’s rally. Kaltura’s Video Experience Cloud allows the company’s roughly 1,000 clients to create live, on-demand video for some 15M end users. KLTA primarily caters to corporations, media companies and universities, with clients ranging from Columbia Business School to Oracle. KLTA’s pre-IPO

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Intel-backed Kaltura's stock pops 20% after IPO values video-cloud firm at $1.2B