NEW
YORK, Nov. 14, 2022 /PRNewswire/ -- Kaleyra,
Inc. (NYSE: KLR) (NYSE American: KLR WS) ("Kaleyra" or the
"Company"), an enterprise Communication Platform as a Service
(CPaaS) business, announced today that the Company received a
written notice (the "Notice") from the New York Stock Exchange (the
"NYSE") that it was not in compliance with the continued listing
criteria set forth in Section 802.01C of the NYSE's Listed Company
Manual ("Section 802.01C"), as the average closing price of the
Company's common stock (the "Common Stock") was less than
$1.00 per share over a consecutive 30
trading-day period.
The Company intends to respond to the NYSE within ten business
days of receipt of the Notice with respect to its intent to cure
the deficiency, as required by Section 802.01C. The Company intends
to consider available alternatives, including, but not limited to,
a reverse stock split, subject to shareholder approval, if
necessary, to regain compliance. Pursuant to Section 802.01C, the
Company has a period of six months following the receipt of the
Notice to regain compliance with the minimum share price
requirement. The Company may regain compliance at any time during
the six-month cure period if on the last trading day of any
calendar month during the six-month cure period the Common Stock
has a closing share price of at least $1.00 and an average closing share price of at
least $1.00 over the consecutive 30
trading-day period ending on the last trading day of that month. If
the Company is unable to regain compliance with the $1.00 share price rule within this period, the
NYSE will initiate procedures to suspend and delist the Common
Stock.
The Notice does not affect the Company's reporting obligations
with the Securities and Exchange Commission, and it does not
conflict with or cause an event of default under any of the
Company's material debt or other agreements.
About Kaleyra
Kaleyra, Inc. (NYSE: KLR) (NYSE American: KLR WS) is a global
group providing mobile communication services to financial
institutions, e-commerce players, OTTs, software companies,
logistic enablers, healthcare providers, retailers, and other large
organizations worldwide. Through its proprietary platform and
robust APIs, Kaleyra manages multi-channel integrated communication
services, consisting of messaging, rich messaging and instant
messaging, video, push notifications, e-mail, voice services, and
chatbots. Kaleyra's technology makes it possible to safely and
securely manage billions of messages monthly with over 1,600
operator connections in 190+ countries, including all tier-1 US
carriers. For more information, please visit www.kaleyra.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of U.S. federal securities laws. Such forward-looking
statements include, but are not limited to, statements regarding
the financial statements of Kaleyra, its omnichannel and other
product and global customer developments, its expectations,
beliefs, intentions, plans, prospects or strategies regarding the
future revenue (including revenue guidance) and the business plans
of Kaleyra's management team, and the impact of the COVID-19
pandemic, and any anticipated lessening of such impact, and the
broader market volatility and geopolitical and macroeconomic
factors on its business and financial performance. Any statements
contained herein that are not statements of historical fact may be
deemed to be forward-looking statements. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intends," "may," "might," "plan," "possible," "potential,"
"predict," "project," "should," "would" and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking. The
forward-looking statements contained in this press release are
based on certain assumptions and analyses made by Kaleyra in light
of its experience and perception of historical trends, current
conditions and expected future developments and their potential
effects on Kaleyra as well as other factors they believe are
appropriate in the circumstances. There can be no assurance that
future developments affecting Kaleyra will be those anticipated.
These forward-looking statements involve a number of risks,
uncertainties (some of which are beyond the control of the parties)
or other assumptions that may cause actual results or performance
to be materially different from those expressed or implied by these
forward-looking statements, including Kaleyra's ability to regain
compliance with the NYSE Listing Company Manual, the mix of
services utilized by Kaleyra's customers and such customers' needs
for these services, including any variability by geography, market
acceptance of new service offerings, the ability of Kaleyra to
expand what it does for existing customers as well as to add new
customers, that Kaleyra will have sufficient capital to operate as
anticipated, and the impact that the novel coronavirus and the
illness, COVID-19, that it causes, as well as governmental
responses to deal with the spread of this illness and the reopening
of economies that have been closed as part of these responses, and
the impact of other geopolitical and macroeconomic factors such as
the war in Ukraine, may have on
Kaleyra's operations, the demand for Kaleyra's products, global
supply chains and economic activity in general. Should one or more
of these risks or uncertainties materialize or should any of the
assumptions being made prove incorrect, actual results may vary in
material respects from those projected in these forward-looking
statements. We undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
Kaleyra Contacts
Marketing Contacts:
Zephrin
Lasker
Executive Vice President, Marketing & Strategic Alliances
zephrin.lasker@kaleyra.com
Lori Perkins
Senior Director – Marketing and Communications
lori.perkins@kaleyra.com
Investor Contacts:
Colin
Gillis
Vice President of Investor Relations
colin.gillis@kaleyra.com
Shannon Devine or Mark Schwalenberg
MZ North America
203-741-8811
KLR@mzgroup.us
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SOURCE Kaleyra US