KLTR - Kaltura adopts shareholder rights plan after unsolicited bid
- Kaltura ( NASDAQ: KLTR ) adopted a limited duration stockholder rights plan after receiving unsolicited offer from Panopto late last month. Kaltura fell 3.3% in premarket trading.
- Kaltura ( KLTR ) said it became aware of the rapid accumulation of significant amount of stock by K1 Investment Management, the financial sponsor of bidder Panopto, according to a statement . Under the plan, one preferred stock purchase right will be distributed for each share of common stock held by stockholders of record on Aug. 22. The rights plan will expire on Aug. 6, 2023.
- Kaltura ( KLTR ) said late last month it will evaluate Panopto's non-binding, unsolicited proposal to acquire the firm for ~$436.1M in due course.
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Kaltura adopts shareholder rights plan after unsolicited bid