NEW YORK & VIENNA, Va.--(BUSINESS WIRE)--Kaleyra, Inc. (NYSE American: KLR) (KLR WS), a rapidly growing cloud communications software provider delivering secure application programming interfaces (APIs) and connectivity solutions in the API/Communications Platform as a Service (CPaaS) market, today announced that it expects to release financial results for the second quarter ended June 30, 2020 on Monday, August 10, after the close of the market.
Additional Funding
The Company also announced that its wholly-owned subsidiary, Kaleyra S.p.A., has entered into a general unsecured loan agreement with Intesa Sanpaolo, S.p.A. of Italy in the amount of $6.5 million (the Loan was disbursed in Euros for an amount of €5.5 million with an exchange rate equal to 0.84801 at the signing date July 29, 2020).
The Loan Agreement has a maturity of 72 months from the date of disbursement and bears interest at a variable rate equal to the three-month Euribor plus a spread of 1.70%. The loan is to be repaid in 20 quarterly installments with a grace period of 12 months. The loan is guaranteed by Mediocredito Centrale S.p.A., the Italian state-owned export credit finance agency, and is made pursuant to a program to address COVID?19 and Italian Government support for Italian businesses.
The $6.5 million of funding is in addition to the $9 million, which was described in the announcement made on July 20. Proceeds are being earmarked for general corporate purposes, including to help accelerate Kaleyra’s growth.
About Kaleyra
Kaleyra, Inc. (NYSE American: KLR) is a global group providing mobile communication services for financial institutions and enterprises of all sizes worldwide. Through its proprietary platform, Kaleyra manages multi-channel integrated communication services on a global scale, comprising of messages, push notifications, e-mail, instant messaging, voice services and chatbots. Kaleyra’s technology today makes it possible to safely and securely manage billions of messages monthly with a reach to hundreds of MNOs and over 190 countries. For more information: https://www.kaleyra.com/.
