KLTR - Kaltura stock gains postmarket on Panopto's offer to buy firm for $436.1M
- Kaltura ( NASDAQ: KLTR ) stock gained 6.4% postmarket on Thursday after the firm disclosed a revised offer by video platform operator Panopto to buy KLTR for $436.1M, or $3/share, in cash.
- The revised offer represents a premium of 27.1% over KLTR's last close and a premium of 44% over the average stock price in the last 30 days.
- Panopto expects to finance the proposed deal with equity financing from its financial sponsor K1 Investment Management's committed capital investment funds.
- Panopto may also seek third-party debt financing for the proposed deal, which is not subject to any financing contingencies.
- K1 also picked up a 6.9% stake in KLTR and is now among its largest shareholders.
- Panopto noted that KLTR's board has to date decided to reject its revised offer "without engaging in a meaningful dialogue".
- Panopto's earlier offer for KLTR was $2.75-$3 per share in cash.
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Kaltura stock gains postmarket on Panopto's offer to buy firm for $436.1M