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Kaleyra, Inc. (NYSE: KLR) has announced a 1-for-3.5 reverse stock split effective March 9, 2023. This decision follows shareholder approval obtained on February 14, 2023. The reverse split means that every 3.5 shares of common stock will be converted into one share. This action will not impact the number of authorized shares or change the par value. The split aims to improve the stock price and marketability of the company's shares. Outstanding warrants will also be adjusted accordingly, reducing the exercisable shares from 5,440,662 to approximately 1,554,475 at a new price of $40.25 per share.
JAWS Mustang Acquisition Corporation (NYSE: JWSM) has announced its transfer from the New York Stock Exchange to NYSE American LLC. This strategic decision, set to take effect around March 14, 2023, is driven by the more favorable listing requirements on NYSE American.
JWSM's voluntary delisting from NYSE aims to enhance its compliance capabilities while maintaining its current reporting practices to the Securities and Exchange Commission. The company is committed to transparency and will continue to pursue its operational objectives following this transition.
Summary not available.
Kaleyra, Inc. (NYSE: KLR) announced a 1-for-3.5 reverse stock split, effective around March 9, 2023, following shareholder approval on February 14, 2023. This move is aimed at boosting the stock price to meet the $1.00 listing requirement on the New York Stock Exchange. Post-split, the number of outstanding shares will decrease from approximately 45.9 million to around 13.1 million. The split won't affect stockholders' ownership percentages and no fractional shares will be issued. Stockholder actions depend on their holdings, with certificates requiring a letter of transmittal for surrender.
Live Oak Mobility Acquisition Corp. (NYSE: LOKM) announced the redemption of all outstanding Class A common stock effective March 20, 2023. This decision follows the company's inability to consummate a business combination within the required time frame as per its amended charter. The redemption price per share is estimated at $10.16. Shareholders will have their public shares canceled and will be eligible to receive the Redemption Amount upon presenting their shares. Beneficial owners with shares in street name will not need to take any action. This step marks a significant development in the company's operational status.
On March 3, 2023, Local Bounti Corporation (NYSE: LOCL, WS) announced receipt of a notice from the New York Stock Exchange regarding non-compliance with continued listing standards due to an average stock price below $1.00 over 30 trading days. The Company has six months to regain compliance and plans to inform the NYSE of its intention to address this issue, potentially through a reverse stock split, pending stockholder approval. Notably, Local Bounti's stock will continue trading during this cure period if it meets other NYSE standards.
Live Oak Mobility Acquisition Corp. (NYSE: LOKM) announced its decision to redeem all outstanding shares of Class A common stock, effective March 20, 2023, as it failed to complete a business combination by the March 6 deadline. The redemption price will be based on the funds in its trust account, and the company's public shares will cease trading on March 7. Following the redemption, the company will wind down operations and file for delisting. The company will not redeem warrants, which will expire worthless. This marks a significant move towards dissolution after failing to secure a merger or acquisition.
Live Oak Mobility Acquisition Corp. (NYSE: LOKM) has cancelled its special meeting of stockholders that was scheduled for March 2, 2023. The company will withdraw proposals from its Definitive Proxy Statement, leading to the expected redemption of all outstanding Class A common stock sold during its IPO. This action is a result of failing to complete an initial business combination within the required time frame. Further details regarding the redemption process are anticipated to be announced soon.
Kaleyra, Inc. (NYSE: KLR, KLR WS) announced on February 28, 2023 that it has launched its global messaging services on Oracle Cloud Infrastructure (OCI). This strategic move aims to enhance innovation in the CPaaS sector and expand its services globally, particularly in the US, EU, UAE, and APAC regions across various industries, including fintech and healthcare. OCI's capabilities allow Kaleyra to provide personalized messaging at scale, thereby improving customer engagement. Kaleyra has partnered with Oracle since March 2022, managing billions of messages worldwide through its advanced communication platform.
Next.e.GO Mobile SE has signed a memorandum of understanding (MOU) with Trafigura Pte. Ltd. to establish a long-term supply chain management agreement, focusing on the supply of aluminum and battery metals including lithium, cobalt, and copper. Commencing in January 2024 and lasting at least five years, this collaboration aims to boost e.GO’s supply chain reliability and support its decentralized growth strategy. The partnership also includes provisions for a supply credit facility and emphasizes sustainability through carbon declaration via the Agora platform. This move is pivotal as e.GO prepares for its upcoming business combination with Athena Consumer Acquisition Corp. (NYSE: ACAQ).